High volatility in Carnival stock price on Friday which ended trading at $7.03

StockInvest.us, 2 months ago


The Carnival stock price fell by -23.25% on the last day (Friday, 30th Sep 2022) from $9.16 to $7.03. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 21.40% from a day low at $7.01 to a day high of $8.51. The price has fallen in 7 of the last 10 days and is down by -34.67% for this period. Volume has increased on the last day by 180 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 237 million shares were bought and sold for approximately $1.66 billion.

Truist Securities is very positive about CCL and gave it a "$8.00 - $10.00" rating on Sep 20, 2022. The price target was changed from 8 to 10.Over the last 90 days, this security got 1 buy, 2 sell, and 0 hold ratings.

The stock has broken the very wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $8.95. A reaction back to this level may hold a second chance to get out before further falls.


There are few to no technical positive signals at the moment. The Carnival stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $8.96 and $9.92. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, September 15, 2022, and so far it has fallen -35.62%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.50 between high and low, or 21.40%. For the last week, the stock has had daily average volatility of 9.53%.

Carnival is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

The Carnival stock holds several negative signals and despite the positive trend, we believe Carnival will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Check full Carnival forecast and analysis here.