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CCL stock price is currently in a downside parallel channel and can hit a new low in the future. - 2
Carnival stock price is currently trading above the 50 and 100 Daily Moving Average.
Carnival Corporation is one of the world’s largest leisure travel companies, and has a huge fleet. fleet. However, like many companies in the travel and hospitality industry, Carnival has faced significant challenges due to the COVID-19 pandemic. The company’s stock price plummeted in early 2020 as the pandemic forced cruise cancellations and travel restrictions. However, the stock is rebounding and may see a reversal. Investors are closely watching Carnival’s financial performance and waiting for a strong report in the near future. It’s upside trend has taken a halt but can see a bounceback in the momentum in the near future. CCL stock is currently slipping but may see a trend reversal in the future. Various analysts are expecting a strong rise in the upcoming days of Carnival stock.
Carnival Stock has a market cap of $13 Billion with a negative EPS.Many Investors are expecting a rise to $21 in the near future.
Bears Are Pushing CCL Down
The weekly technical chart of the Carnival Stock suggests a weak consolidation in price. It has formed a downside parallel channel which can push the asset price to a new low.CCL stock price is currently trading near the value of $10.59 with a drop of 2.75% in the intraday session.Resistance of CCL can be seen near $12.Meanwhile the support of the asset price can be seen near $8.It is currently trading above the 50 and 100 Daily Moving Average.It may see a negative crossover which can push the asset price to a new low.
RSI of the CCL stock is near 45 suggesting its presence in the neutral zone.There is a downside slope which can push the asset price to a new low.
Conclusion
Carnival Stock has been in a downside momentum despite a recovery in the hospitality business. It has been forming a strong bearish candle which may push the asset price down. Various analysts are expecting a bounceback in the price in near future.
Technical Levels
Major Support:$8
Major Resistance:$12
Disclaimer
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Source: https://www.thecoinrepublic.com/2023/02/25/carnival-stock-price-prediction-will-ccl-price-hit-a-low-of-8-in-future/