Carnival Corp (CCL): Price Now Near $22.84; Daily Chart Shows Downtrend on 20 Day Basis

The Hourly View for CCL

At the time of this writing, CCL (Get Ratings)’s price is down $-0.2 (-0.85%) from the hour prior. This is the 2nd hour in a row CCL has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Out of Transportation stocks, CCL ranks 61st in regards to today’s price percentage change.

CCL’s Technical Outlook on the Daily Chart

At the moment, CCL’s price is down $0 (-0.01%) from the day prior. CCL has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Carnival Corp’s price action over the past 90 days can be seen via the chart below.

CCL

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CCL: Daily RSI Analysis

  • For CCL, its RSI is now at 0.
  • CCL and RSI may be exhibiting divergent trends. This may be something to monitor.

For CCL News Traders

Investors and traders in CCL may be particularly interested in the following story that came out in the past day:

Is Florida Fumbling the Cruise Line Recovery?

This was supposed to be a summer of love for the cruise line industry, but the bounce for Carnival (NYSE: CCL) (NYSE: CUK), Royal Caribbean (NYSE: RCL), and Norwegian Cruise Line Holdings (NYSE: NCLH) is starting to take on water. Florida has gone from being a state that was at one point backing the three Miami-based cruise lines in efforts to resume operations to one that’s become a hindrance to the restart process.

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