High volatility in Carnival stock price on Tuesday which ended trading at $7.76

The Carnival stock price gained 13.28% on the last trading day (Tuesday, 4th Oct 2022), rising from $6.85 to $7.76. During the last trading day the stock fluctuated 10.45% from a day low at $7.08 to a day high of $7.82. The price has fallen in 7 of the last 10 days and is down by -25.53% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 14 million more shares were traded than the day before. In total, 118 million shares were bought and sold for approximately $912.77 million.

The last rating was given by Wells Fargo on Oct 04, 2022. The price target was changed from 10 to 7.Over the last 90 days, this security got 1 buy, 7 sell, and 0 hold ratings.

The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Carnival stock with a 90% probability to be traded between $6.90 and $11.32 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

A buy signal was issued from a pivot bottom point on Monday, October 03, 2022, and so far it has risen 13.28%. Further rise is indicated until a new top pivot has been found. 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. 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 $8.39 and $9.73. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $7.03 and $6.85.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $6.85 may give a huge drop in the stock price.

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 $0.74 between high and low, or 10.45%. For the last week, the stock has had daily average volatility of 11.22%.

Carnival holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.