Samirp01

CCL Broke Key Resistance

Long
NYSE:CCL   Carnival Corporation
With JNJ news, vaccine giving hope to investors, and another round of stimulus on the way, cyclical travel stocks like CCL should regain strength and continue forward. With good news, and the recent market sell-off due to bond yields, CCL and other value stocks saw a push. We're expecting this to continue, especially with the arise of a new cruise line from the company. The stock also broke a key resistance level from the June run up, at 25. This level held and the stock topped at 28s before falling back to 25 and bouncing - proving that the resistance level has now become a support level . This trend should continue, as there is nothing stopping the stock from moving back up to it's previous highs since this strong supply level was cleared.
Entry at 25-26, PT1 33, PT2 43-45, PT3 (EOY) ATH , SL Below 25

Comments

Solid DD and PTs. I'm seeing an ascending triangle/bullish pennant and a quick move to the low 30s.
+1 Reply
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