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Carnival Crosses Below its 10-day MA (CCL)

By Shiri Gupta

Today, shares of Carnival (NYSE:CCL) have crossed bearishly below their 10-day moving average of $47.38 on a volume of 4.8 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Carnival share prices have been bracketed by a low of $40.52 and a high of $55.77 and are now at $46.43, 15% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

SmarTrend recommended that subscribers consider buying shares of Carnival on July 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $46.97. Since that recommendation, shares of Carnival have risen 3.7%. We continue to monitor CCL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Carnival

Ticker(s): CCL