Carnival stock price up more than 9.73% on Friday

The Carnival stock price gained 9.73% on the last trading day (Friday, 30th Jun 2023), rising from $17.16 to $18.83. During the last trading day the stock fluctuated 7.15% from a day low at $17.62 to a day high of $18.88. The price has been going up and down for this period, and there has been a 16.81% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 54 million more shares were traded than the day before. In total, 114 million shares were bought and sold for approximately $2.14 billion.

Jefferies is very positive about CCL. The price target was set to 25 (Jun 30, 2023).Over the last 90 days, this security got 1 buy, 0 sell, and 0 hold ratings.

The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $17.36, a level that may pose a second chance to hit a runner. According to fan-theory $20.79 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Mostly positive signals in the chart today. 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 $16.48 and $13.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 26, 2023, and so far it has risen 28.97%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

On the downside, the stock finds support just below today's level from accumulated volume at $15.89 and $14.72.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Carnival finds support just below today's level at $15.89. If this is broken, then the next support from accumulated volume will be at $14.72 and $14.60.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.26 between high and low, or 7.15%. For the last week, the stock has had daily average volatility of 7.69%.

The Carnival stock is extremely overbought on RSI14 (81). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. 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 period.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.