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Look for Shares of Carnival Corp to Potentially Rebound after Yesterday's 8.26% Sell Off

By Amy Schwartz

Carnival Corp (NYSE:CCL) traded in a range yesterday that spanned from a low of $12.10 to a high of $13.01. Yesterday, the shares fell 8.3%, which took the trading range below the 3-day low of $13.64 on volume of 35.4 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 April 7th, 2020 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.55. Since that recommendation, shares of Carnival Corp have risen 5.1%. We continue to monitor CCL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Carnival Corp share prices have moved between a 52-week high of $54.25 and a 52-week low of $7.90 and are now trading 52% above that low price at $12.02 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 7% while the 200-day MA has slid 1.3%.

Keywords: rebounders carnival corp

Ticker(s): CCL