Carnival Cruise lines has formed a diamond shape on the weekly chart. The pattern is slightly tilted downward
The diamond followed an extended upward trend leading to the formation of this pattern.
Plan to cover at about $60.40.
I don't know what the real name for this pattern is, but it looks like a vacuum cleaner and it is usually bearish, unless the tip of the vacuum is pointing up, in which case you will probably get some sort of bounce.
The business model suffers. They have to pay license fees for them music, They make money from subscriptions and ads. Too many ads, and people leave. But there are other competing services, such as YouTube.
I don't normally use Fib retracements. How do you explain the massive buying that drove price from $7.10 to $11.18 in three weeks?
Price target: $7.