Carnival Is Fighting Higher
Reopening stocks like cruise lines have fought higher in the last month. Now Carnival has pulled back, giving a potential opportunity for buyers to get on board.
The main pattern on this chart is the series of higher lows since mid-July, followed by a breakout above $24.50 last week. The level is near the high in December and the low in March and May. It may now be turning back into support.
Next, the 50-day simple moving average (SMA) is rising again. Notice how CCL advanced the last time this line turned positive in November. (This chart includes TradeStation's Moving Average Speed custom script.)
Third you have the tight volatility squeeze before the breakout last week, with Bollinger Band Width falling to its lowest reading since late 2019.
Finally, today’s low almost exactly matches the 200-day simple moving average. Getting back above that line may suggest the longer-term trend is bullish.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
The main pattern on this chart is the series of higher lows since mid-July, followed by a breakout above $24.50 last week. The level is near the high in December and the low in March and May. It may now be turning back into support.
Next, the 50-day simple moving average (SMA) is rising again. Notice how CCL advanced the last time this line turned positive in November. (This chart includes TradeStation's Moving Average Speed custom script.)
Third you have the tight volatility squeeze before the breakout last week, with Bollinger Band Width falling to its lowest reading since late 2019.
Finally, today’s low almost exactly matches the 200-day simple moving average. Getting back above that line may suggest the longer-term trend is bullish.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
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