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Possible Bearish Inside Day Candle Pattern Detected for Carnival Corp (NYSE:CCL)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Carnival Corp (NYSE:CCL) based on the price action in the company's shares. Today's price range of $53.46 and $53.46 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Carnival Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Carnival Corporation owns and operates cruise ships offering cruises to all major vacation destinations including North America, United Kingdom, Germany, Southern Europe, South America, and Asia Pacific. The Company, through a subsidiary also owns and operates hotels and lodges. Dually-listed company with CCL LN.

In the past 52 weeks, shares of Carnival Corp have traded between a low of $45.64 and a high of $67.69 and are now at $53.46, which is 17% above that low price. The 200-day and 50-day moving averages have moved 0.39% lower and 0.73% lower over the past week, respectively.

There is potential upside of 43.0% for shares of Carnival Corp based on a current price of $53.46 and an average consensus analyst price target of $76.44. The stock should find initial resistance at its 50-day moving average (MA) of $55.74 and further resistance at its 200-day MA of $57.55.

SmarTrend is tracking the current trend status for Carnival Corp and will alert subscribers who have CCL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle carnival corp

Ticker(s): CCL