CCL: Near a resistance! How to proceed?

Hello traders and investors! Let’s see how CCL is doing today! It’s been a while since my last study on it, so let’s see if it behaved according to the technique.

First, since our last study, CCL hit our buy zone around the $ 24 two more times, and it did hit the $ 30 afterwards both times. If you missed my last CCL analysis, the link to it is below, as usual.

Now that CCL is near its resistance again, all we can assume is that it’ll do a pullback next, and that would be great, as it could offer another chance for those who missed the last buy points. So, no need to panic if it drops.

Since the beginning, this last bullish leg wasn’t convincing to me, as its volume was way too low. But we still have a V-shape pattern, and now that CCL reached the resistance at $ 30 again, it is doing a Shooting Star candlestick pattern, with high volume .

This indicates that we could see a pullback ahead, if it triggers this pattern, of course.

But again, a pullback would be an opportunity to buy, as CCL is clearly in a bull trend in the weekly chart too. The blue line at $ 25 is a nice point to keep our eyes open as well. And as we all know, we must buy when we are near support levels - not when we are near resistance levels, which is the perfect time to sell.

Last week’s volume was very low, even considering it was a shorter week than usual.

Let’s see how CCL will play next, and if you liked this idea, I invite you to follow me to keep in touch with my daily updates. And please, support this idea if you liked it!

Thank you very much!

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Nice work...++
+1 Reply
Nathan_Black Brain_haddin
@Brain_haddin, Thank you very much, Brian! I'm glad you liked it!

Trade well.
Looks good in my eyes, keep it up!
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