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Carnival Corporation (CCL) “On a long-term technical basis, the stock (CCL) is trading below its 200-day moving average which generally implies it is in a negative trend.
The stock has support at 17.56 and 16.52. If the stock breaks down through support at 17.56 then it will probably continue lower to 16.52. The stock has resistance at 25.28 and at 52.00. If the stock breaks up through resistance at 25.28 then it will probably continue higher to 52.00. The 200-day moving average is at 25.36. This will also act as resistance. However, the stock has broken out of its long-term downtrend according to the fibonacci fan, which is significant. If the stock can form new support above 17.56 look for a rally to previous highs. The stock is extremely overbought according to the Stochastic Indicator (79.61), and turning down, which suggests a pause or possible pullback, especially if near resistance. Confirm this with the Short-Term and Daily Outlook to keep from exiting prematurely.”
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