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- Carnival stock price has been recovering with strong uptrend momentum over the daily time frame chart.
- CCL stock price has recovered above the 20, 50 and 100-days Daily Moving Average and is now moving towards 200-days DMA.
- CCL share price has entered the distribution phase and is still trading with strong uptrend momentum over the daily chart.
Carnival stock price has been recovering with steady upward momentum since December 2022 and has recovered by 38%. CCL stock price is trying to maintain the current upside momentum over the daily time frame chart. Meanwhile, analysts speculate that CCL stock price might recover with a bigger rally by mid 2023. Investors in CCL stocks need to watch for the stock’s price action over the daily time frame chart. Nevertheless, Carnival share price has entered the distribution phase and it may surpass the distribution phase at $12.00.
Carnival stock price was at $10.51 and has gained around 0.23% by the end of last week’s trading session. Now CCL stock price (NYSE: CCL) might see a slight selling on Monday;’s trading session as it has already entered the distribution phase over the daily time frame chart.
Carnival stock price (NYSE: CCL) has been trying to recover itself through an interesting bullish rally over the daily time frame chart. However, on monday’s trading session sellers may approach to raid the token and try for a pull back. While Carnival stock buyers need to come forward in order to avoid slipping from the distribution phase. CCL share price must accumulate buyers to recover itself with utmost uptrend momentum and break out of the distribution phase at $12.00 to rally towards $20.
Will Carnival Stock Price Reach $20?
Technical indicators suggest that Carnival stock price has been trading with strong uptrend momentum over the daily time frame chart from last week. Now buyers need to come forward by the opening of Monday’s trading session for CCL stock price to maintain its recovery rate.
Relative Strength Index showcases the uptrend momentum of CCL stock price. RSI is at 71 and has entered the overbought territory. MACD exhibits strong upside velocity of Carnival share price. The MACD line is ahead of the signal line after a positive crossover. Investors in Carnival stock need to wait until CCL share price recovers itself above $12.00 to recover itself till $20.
Summary
Carnival stock price has been recovering with steady upward momentum since December 2022 and has recovered by 38%. CCL stock price is trying to maintain the current upside momentum over the daily time frame chart. CCL share price must accumulate buyers to recover itself with utmost uptrend momentum and break out of the distribution phase at $12.00 to rally towards $20. Technical indicators suggest that Carnival share price (NYSE: CCL) has been trading with strong uptrend momentum over the daily time frame chart from last week. The MACD line is ahead of the signal line after a positive crossover. Investors in Carnival stock need to wait until CCL share price recovers itself above $12.00 to recover itself till $20.
Technical Levels
Support Levels: $9.00 and $8.00
Resistance Levels: $12.00 and $20.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
