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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Carnival Corp (NYSE:CCL) based on the price action in the company's shares. Yesterday's price range of $43.58 and $44.00 is within the prior day'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. Traders and investors interested in shares of Carnival Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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.

Carnival Corp has overhead space with shares priced $42.80, or 44.0% below the average consensus analyst price target of $76.44. The stock should find initial resistance at its 200-day moving average (MA) of $47.43 and further resistance at its 50-day MA of $47.44.

In the past 52 weeks, Carnival Corp share prices have been bracketed by a low of $39.92 and a high of $59.24 and closed yesterday at $42.80, 7% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.3%.

SmarTrend is monitoring the recent change of momentum in Carnival Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Carnival Corp in search of a potential trend change.

Keywords: bullish am inside day candle carnival corp

Ticker(s): CCL