Carnival Stock Forecast
Carnival stock upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on Jun 24, 2024)
The Carnival stock price gained 1.99% on the last trading day (Monday, 24th Jun 2024), rising from $16.07 to $16.39. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.13% from a day low at $16.00 to a day high of $16.50. The price has risen in 6 of the last 10 days but is still down by -1.86% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 18 million more shares were traded than the day before. In total, 38 million shares were bought and sold for approximately $619.13 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.20% during the next 3 months and, with a 90% probability hold a price between $15.30 and $18.00 at the end of this 3-month period.
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CCL Signals & Forecast
The Carnival stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $16.00 and $15.55. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -3.30%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Carnival stock
Carnival finds support from accumulated volume at $16.34 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.500 between high and low, or 3.13%. For the last week, the stock has had daily average volatility of 3.27%.
Our recommended stop-loss: $15.46 (-5.70%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 47 days ago.)
Trading Expectations (CCL) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Carnival Corporation to open at $16.30, and during the day (based on 14 day Average True Range), to move between $15.81 and $16.97, which gives a possible trading interval of +/-$0.578 (+/-3.53%) up or down from last closing price. If Carnival Corporation takes out the full calculated possible swing range there will be an estimated 7.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.34 (0.31%) than the resistance at $16.94 (3.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Carnival Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Carnival stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.324 Buy Candidate Upgraded
Predicted Opening Price for Carnival Corporation of Tuesday, June 25, 2024
Fair opening price June 25, 2024 | Current price |
---|---|
$16.30 ( 0.569%) | $16.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CCL
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 16.80 | 2.48% |
R2 | 16.61 | 1.32% |
R1 | 16.49 | 0.596% |
Price | 16.39 | |
S1 | 16.11 | -1.73% |
S2 | 15.99 | -2.45% |
S3 | 15.80 | -3.62% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 17.19 | 4.88% |
R2 | 17.03 | 3.90% |
R1 | 16.94 | 3.36% |
Price | 16.39 | |
S1 | 16.34 | -0.305% |
S2 | 15.34 | -6.41% |
S3 | 14.12 | -13.85% |
CCL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 16, 2020 | Feb 20, 2020 | Mar 13, 2020 | $0.500 | 2.84% |
2 | Oct 14, 2019 | Nov 21, 2019 | Dec 13, 2019 | $0.500 | 1.05% |
3 | Jul 11, 2019 | Aug 22, 2019 | Sep 13, 2019 | $0.500 | 0.99% |
4 | Apr 18, 2019 | May 23, 2019 | Jun 14, 2019 | $0.500 | 0.94% |
5 | Jan 17, 2019 | Feb 21, 2019 | Mar 15, 2019 | $0.500 | 0.88% |
FAQ
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