• Return to Headlines

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

By Amy Schwartz

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 $11.65 and $11.91 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.

There is potential upside of 528.1% for shares of Carnival Corp based on a current price of $12.17 and an average consensus analyst price target of $76.44. Carnival Corp shares should first meet resistance at the 50-day moving average (MA) of $21.28 and find additional resistance at the 200-day MA of $39.61.

Over the past year, Carnival Corp has traded in a range of $7.90 to $56.04 and closed yesterday at $12.17, 54% above that low. The 200-day and 50-day moving averages have moved 1.71% lower and 10.37% lower over the past week, respectively.

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.

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: bullish am inside day candle carnival corp

Ticker(s): CCL