CVC1 trade ideas
Carnival could bounce30 March a BIG RED DIAMOND suggesting momentum.
31 March and 01 April GREEN ARROWS DOWN (RSI below 30) AND spotty Trend meter of red and green, possible suggesting OVERSOLD.
Carnival could bounce, probably depends on news
Background
05 Mar a BIG RED TRIANGLE and overlapping with 4 dots on the Trendmeter - perfect SHORT if you made it.
06 Mar, 12 Mar, 18 Mar SMALL RED DIAMONDS suggesting momentum entries but none as strong as 05 Mar
19 Mar - 26 Mar We see some exhaustion and price does sideways
Is Carnival Cruise Lines headed straight to Davy Jones' locker?Massive divergence of the 50MA and 200MA displays a beautiful death cross in action and the MACD is converging with signal for a downtrend on the daily chart. With earnings tomorrow morning and all the negative news around COVID-19, this one's a no brainier. If the current support breaks then Carnival may go sub $1.