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- 1 Carnival Stock price has been slipping continuously from $12 and may see a rebound
- 2 CCL stock is currently moving in a downside channel.Technical indicators of CCL are favoring downside trend.
Carnival Corporation is one of the world’s largest cruise line companies. With a market capitalization of around $13.76 billion, CCL stock is one of the most desirable stock among investors. Despite facing several challenges in recent years, including the COVID-19 pandemic, CCL stock remains an attractive investment option as per various analysts. Before the pandemic, the cruise industry was growing rapidly, with millions of people taking cruises each year. However, the pandemic hit the industry hard, forcing cruise lines to suspend operations for months. Carnival stock has a strong brand and extensive fleet of ships which gives it a strong advantage among the others. Carnival stock may see a strong rise to its 52 week high. Many investors are expecting a strong rebound in the near future.
Carnival Corporation has a market cap of $13.76 Billion with a negative EPS. CCL stock price might start recovering in the near future.
Will CCL Stock Fall Below $10?
The weekly technical chart of the CCL stock suggests a weak consolidation in price.It is currently moving in a zone and if it breaks below $10 it can see a new low in the future.On the daily chart it is trading near the value of $10.9 with a small gain in intraday session.Resistance of the CCL stock while moving upside can be seen near $12.Meanwhile the support of the asset price can be seen near $8 in the future.It is trading above the 50 and 100 Daily Moving Average.Meanwhile 50 DMA can act as a support of the price.
RSI of the CCL stock can be seen near 44 suggesting its presence in the neutral zone.There is a downside slope which can push the asset price down.
Conclusion
CCL stock has been seeing a increase in the profit steadily and may see a new rise. It is currently trading in a downside channel. Various analysts are expecting a strong rise in CCL stock in the future.
Technical Levels
Major Support:$8
Major Resistance:$12
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes 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.
