In the daily bar chart of CCL, below, we can see that the shares have traveled lower and lower the past 12 months. Prices made a low in July and then a very weak bounce before Friday’s gap lower and sharp decline. Trading volume soared above 200 million shares telling us there was a rush to get out the door. The slope of both the 50-day and the 200-day moving averages are negative.
In the weekly Japanese candlestick chart of CCL, below, we can see a bearish picture. The shares are in a longer-term decline as they trade below the bearish 40-week moving average line. There is no nearby chart support.
The weekly OBV line inched up for a few weeks but that advance probably ended Friday. The weekly MACD oscillator is below the zero line and likely to cross to the downside for a fresh sell signal.
In this daily Point and Figure chart of CCL, below, we can see that the shares reached a downside price target around $7.
In this weekly Point and Figure chart of CCL, below, we can see a price target around $3.84.
Bottom-line strategy: The weak stock market performance may have you dreaming about going on a cruise to get away from it all, but the stock charts of CCL are weak and probably headed still lower. Avoid the long side of CCL.
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Source: https://realmoney.thestreet.com/investing/stocks/carnival-is-taking-on-water-time-to-bail–16104114?puc=yahoo&cm_ven=YAHOO&yptr=yahoo