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SmarTrend Watching for Potential Pullback in Shares of Carnival Corp After 1.58% Gain

By David Diaz

Carnival Corp (NYSE:CCL) traded in a range yesterday that spanned from a low of $62.67 to a high of $64.14. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $62.82 on volume of 2.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Carnival Corp has traded in a range of $56.45 to $72.70 and is now at $63.86, 13% 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 0.7%.

SmarTrend recommended that subscribers consider buying shares of Carnival Corp on August 20th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $60.60. Since that recommendation, shares of Carnival Corp have risen 3.5%. We continue to monitor CCL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders carnival corp

Ticker(s): CCL