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Carnival Corp Falls 4.59% on Heavy Volume: Watch For Potential Rebound

By Shiri Gupta

Carnival Corp (NYSE:CCL) traded in a range yesterday that spanned from a low of $65.95 to a high of $68.88. Yesterday, the shares fell 4.6%, which took the trading range below the 3-day low of $68.17 on volume of 3.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Carnival Corp on May 25th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $62.78. Since that recommendation, shares of Carnival Corp have risen 10.1%. We continue to monitor CCL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Carnival Corp has traded in a range of $42.94 to $69.89 and is now at $66.33, 54% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

Keywords: rebounders carnival corp

Ticker(s): CCL