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Bearish Moving Average Cross by Carnival Corp (CCL)

By James Quinn

Carnival Corp (NYSE:CCL) crossed under its 10-day moving average of $56.33 on a volume of 4.5 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Carnival Corp has traded in a range of $45.64 to $67.69 and is now at $52.71, 15% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of Carnival Corp on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $52.00. Since that recommendation, shares of Carnival Corp have risen 8.9%. We continue to monitor CCL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses carnival corp

Ticker(s): CCL