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- 1 CCL stock price is currently trading below 20-day and 50-day EMA.
- 2 CCL stock price experienced bearish pressure in recent times.
- 3 Carnival Corporation (CCL: NYSE) is currently trading at $15.90 with an intraday gain of +1.21%.
CCL stock is presently witnessing a weak bearish momentum on the daily technical charts. On the daily chart, the share price has seen a strong shorting in recent times. Carnival stock is currently trading near the value of $15.90, with a gain of +1.21% in the intraday session.
The upside trend of Carnival may halt near the value of $19.55. Meanwhile, the current support of the share price is near $14.80. CCL price is currently roaming beneath the 20 and 50-day EMA. If the price surges beyond the 50-day EMA, then a strong upside trend can be seen in the future.
CCL price forecast indicates that the Carnival stock is trading within the firm grasp of the bears for now. The buyers have not been successful in smashing the price above its essential resistance levels near 20 and 50-EMA on the 1-day chart.
The technical indicators favour the bears projecting a pessimistic perspective for the buyers. RSI and stochastic RSI oscillators are moving near the neutral zone whereas the major EMA lines are acting as barrier points for Carnival price.
The company had an excellent performance throughout the year. Year-to-date it gave excellent returns of 92.96% and 48.88% returns in the span of 6 months. In the last 1 month, it gave a negative return of -9.14% and a positive return of 2.98% in the last seven days. Indicating a long bullish trend continuing till now.
As per the TradingView indicator summary, CCL stock is on the neutral side indicating a period of price consolidation for the CCL stock.
Sell Off in CCL Stock Due to Uncertainty
Carnival Corporation stock (NYSE: CCL) is trading under the 20 and 100-day DMAs (Daily moving averages), which do not uphold the price trend. However, the price is currently beyond the 100 and 200-day moving averages.
Nevertheless, if more selling volume adds up in stock, then more downward levels can be seen in the upcoming weeks. The price might smash new lows by making lower highs and lows.
The current value of RSI is 41.59 points. The 14 SMA is below the median line at 42.21 points which indicates that the CCL stock is bearish.
The MACD line at -0.4193 and the signal line at -0.2684 are below the zero line. A bearish crossover is observed in the MACD indicator which signals more mild bearishness for the Carnival stock price.
Short-Time Horizon Analysis
CCL stock has shown sellers’ strength and profit booking in the stock was noted on the short-term charts. Moreover, the price retested the 50-day EMA which the seller tried to break for further weakness in the stock.
The RSI curve is near the oversold region at 41, and a negative perspective was noted, indicating bearishness in the stock.
The MACD indicator also persisted to form green bars and a bullish crossover was noted which signals a long position in the stock.
Summary
Carnival Corporation (CCL: NYSE) price prediction suggests bears and bulls are yet to gain a proper grasp on the trend. Investors might prefer to wait for a confluence of multiple technical indicators in order to decide the direction of the trend. However, in order to accelerate towards its recovery phase, CCL shares must amass purchasers. However, investors and traders should wait for a proper setup before making the next move and avoid FOMO.
Technical Levels
- Support Levels: The most immediate support levels for the CCL stock price are $17.44 and $16.05.
- Resistance levels: The most immediate resistance levels for the Carnival stock price are $19.89 and $20.95.
Disclaimer
The analysis delivered in this article is for informational and educational objectives only. Do not depend on this information as financial, investment, or trading recommendations. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
