CCL had a good run since since 2014 but is flat-lining at the tail end of an extended ABCD formation. High of c.$73 was a stretched 138.2% CD extension with price action range bound since Sep 2017. CCL and competitors have been aggressively adding capacity over the last few years which you would expect severe operational deleveraging in the event of a dry spell....
Looks like we got ourselves a $CCL with a huge bull flag with a failed/fake break out, leading to another mini bull flag within the larger bull flag, and now breaking out...This is a tricky one, but she's going higher. All Aboard!
It looks like there is a bull flag pattern formed on CCL. If it breaks out soon, which in my opinion is likely, it should reach approximately 67.70. The Ichimoku Cloud also looks promising, so I think it's safe to say that CCL is going to be moving upwards in the near future.
Only way in VIEW to trade earnings, is make sure that you set up trades the day before. Use iron condors, strangles, straddles. Why? because most of the time you have no clue which direction price action will go after earnings, in the long term. Example of a $56.00 - $ 60.00 straddle. You get a premium or credit and profit from trade (your reward) & your maximum...
Carnival corporation has been in a huge rally but lately we can see some signs of fatigue that we cannot ignore.
1.CCL stock seems to respect well the 1,618 Fibonacci extension as you can see it moves at those levels after every pulback.(I didn't do it for every pull back to keep the chart clean but you can try it,it works almost for...
CCL SHOWING DIVERGENT SIGNS:
- Long and short term negative trends, while the medium term is still up trending;
- Golden cross in mid November suggesting upside on the uptrend;
- Multiple rejections at/above 53 suggesting more downside;
- Down trending MACD and RSI;
- Mildly positive consensus (closer to a HOLD);
- Some 10% upside on the consensus target price;