- 1
Carnival stock price might revert back from the support zone and might sustain inside the distribution phase over the daily time frame chart. - 2
CCL shares couldn’t sustain near $12.20 resistance level inside the distribution phase and has started regulating the selling pressure. - 3
Carnival Corp. (CCL) has gained around 32.16% year to date showcasing the potential to surge by the end of 2023.
Carnival stock price has been slipping after testing the $12.23 resistance level and needs to sustain at $10.50 to revert back. CCL share price needs to revert back towards the upper resistance level to start its rally in 2023. Meanwhile, CCL shares have showcased its potential before during the start of 2023 and might rally in mid 2023, says analysts. Carnival share price might get support from the support level of $10.50 and start recovering over the charts.
Carnival stock price was at $10.89 and has lost 1.36% of its market capitalization during Thursday’s trading session. However, volume change can be seen below average and needs to grow during Friday’s trading session.
Carnival stock price has been slipping after surging from the start of 2023 and reverted back from $12.23. Meanwhile, CCL share price has been trying to maintain a 20-EMA above 50 and 100-days Daily Moving Average while the CCL shares are still below the 200-days DMA.
Carnival stock price has dropped around 9.25% during last week while CCL shares have showcased the growth of around 1.59% in a month. In the meantime, the quarterly report of CCL share price is positive as the stock price has gained around 12.27% in the last three months. Investors might get a chance to witness a rally of Carnival stocks in mid 2023.
Carnival Stock Might Revert from Here!
Carnival stock price has been declining through strong downtrend momentum over the daily time frame chart. Technical indicators suggest the downside trend of CCL share price. Relative strength index showcases the selling pressure over CCL stocks. RSI was at 48 and has slipped below neutrality.
MACD exhibits the downtrend velocity of CCL stock price. The MACD line is below the signal line after a negative crossover. Investors in CCL shares need to accumulate themselves if the stock price shows any sign of a directional change over the daily chart.
Summary
Carnival stock price has been slipping after testing the $12.23 resistance level and needs to sustain at $10.50 to revert back. CCL share price needs to revert back towards the upper resistance level to start its rally in 2023. Technical indicators suggest the downside trend of CCL share price. Investors might get a chance to witness a rally of Carnival stocks in mid 2023.
Technical Levels
Support Levels: $10.50 and $10.20
Resistance Levels: $11.50 and $12.50
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/02/24/carnival-corp-ccl-will-carnival-stock-price-rally-in-2023/