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- 1 Carnival Stock price prediction (NYSE: CCL) suggests the stock is in an uptrend and more upside is possible.
- 2 CCL Stock price retraces down to the 50-day EMA.
- 3 Carnival Corporation Stock witnessed a short-term sell-off after hitting a 52-week high.
Carnival Stock price prediction (NYSE: CCL) remains bullish and suggests more upside is possible. On a daily time frame, CCL stock price is forming a bullish pattern and the presence of buyers is visible near to support.
CCL stock price sustains above the 200-day EMA showcasing positional trend in an upward direction. Therefore, if any short-term downside retracement comes then the price will become attractive at lower levels.
Carnival stock price is near to the 50-day EMA which is acting as an immediate support for the bulls. It will be interesting to see whether the buyers are able to defend the support or not.
Carnival Corporation stock showed a massive rally after the release of the previous quarter’s earnings. It breakout of $16.00 hurdle with a string buying volume which increases the reliability of the breakout.
CCL share prices rallied 20% approx after $16.00 breakout and hit a 52-week high at $19.55. Later, prices witnessed short-term profit booking due to which prices retested the breakout level.
Carnival stock price closed the previous session at $16.83 with an intraday rise of 0.24%. The market capitalization stands at $21.07 Billion.
Will Carnival Stock Price hit a new 52-week high soon?
Carnival Stock Price Prediction (NYSE: CCL) remains bullish for the year 2023. The stock is already up by 111.17% on a YTD basis and buyers successfully holding the higher levels.
In the past month, CCL stock price consolidated in the range of $16.30 to $19.56. Presently, the stock is near the lower range and buyers are trying their best to rebound.
If the buyers succeed to defend the 50-day EMA support then prices will reverse upward. Also, the probability of hitting the 52-week mark will increase.
CCL Stock Price Bullish on Weekly Time Frame
CCL Stock price is bullish on daily and weekly time frames. But, if the stock drops below $16.00 support then the short-term trend might turn bearish.
CCL stock is retested to the previous breakout level so buyers might be active. Therefore, the possibility of bouncing back is high.
However, the next phase of a rally in the stock was only after a breakout of the $20.00 hurdle. The super trend shows that price is near to crucial support so the downside risk is low.
Conclusion
Carnival stock price prediction (NYSE: CCL) suggests the rally is likely to continue in the coming months. CCL stock price is near to strong support so we might see a bounce back in the coming weeks.
Technical levels
- Resistance levels: $18.00 and $19.56
- Support levels: $16.50 and $14.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. 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.
