- Carnival Corp. stock price melted by 6.39% in Monday’s trading session.
- The CCL stock price has dropped from the hurdle of the 200-day EMA.
- Currently, the CCL stock price is following a bullish trendline.
Carnival Corporation is a British-American cruise operator with a combined fleet of over ninety vessels across nine cruise line brands and one joint venture with China State Shipbuilding Corporation (SCCC). A dual-listed company Carnival is composed of two companies—the Panama-incorporated, US-headquartered Carnival Corporation and the UK-based Carnival PLC—which function as one entity.
Based on recent financial data, Q3 2023 was announced on September 29, 2023, and the estimated earnings per share (EPS) was 0.752 and the reported EPS was 0.86, which was positively surprised by 14.41%. The estimated revenue was $6.707 Billion, but the reported revenue was $6.854 Billion which was positively surprised by 2.19%.
Carnival Corporation’s debt-to-equity ratio is 5.749 for May 31, 2023. The CCL stock price jumped by 66.58% last year which shows that CCL stock is in a strong bullish trend.
Turning to the technical indicators, the RSI is at 27.29 and in the oversold zone. RSI is in favor of bearish momentum. According to MACD, the volume is not strongly negative but the 9 EMA is at -0.5405, which is strongly negative. The CCL stock price is trading below the 200-day EMA.
CCL Stock Price Technical Analysis in 1-D Timeframe
Carnival Corp. stock price is trading at $12.83 and lost 6.39% in the last trading session. The market capitalization is $17.04 and the public float is 983.98 Million. The average volume of CCL stock is 30.94 Million and Carnival Corp. company published a dividend of $0.50 on an ex-date of February 20, 2020.
Currently, the CCL stock price is staying on a trendline. The price has taken the support and shown bullish momentum every time. If the price shows any bullish candlestick with good volume, then investors can see a bullish momentum.
On the other hand, if the CCL stock price gives a breakdown from the trendline and sustains below the trendline, the price may decline further. The CCL stock price may hold on to $11.20and it may work as a support. But if the price breaks this support level and forms a bearish candlestick pattern, then the price may decline more and one can see a downtrend in the upcoming trading sessions.
Conclusion
Carnival stock price is rising through a bullish trendline and currently taking support on the trendline. If the price forms a bullish candlestick pattern, then the price may surge. If the price doesn’t sustain on the trendline and melts, then investors can see bearish momentum and avoid buying the stock.
Technical Levels
Resistance Level: $15 and $19.50
Support Level: $11.20 and $8.50
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 stock assets comes with a risk of financial loss.
