Carnival Stock Forecast

Stronger technical forecast for Carnival stock price after Tuesday trading.
(Updated on Apr 23, 2024)

CCL Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.40%. 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 a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $15.67. On a fall, the stock will find some support from the short-term average at $14.21. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 $14.36 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.605 between high and low, or 4.22%. For the last week, the stock has had daily average volatility of 2.66%.

Our recommended stop-loss: $14.17 (-4.22%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (CCL) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Carnival Corporation to open at $14.69, and during the day (based on 14 day Average True Range), to move between $14.24 and $15.34, which gives a possible trading interval of +/-$0.551 (+/-3.73%) up or down from last closing price. If Carnival Corporation takes out the full calculated possible swing range there will be an estimated 7.45% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $14.36 (2.91%) than the resistance at $15.83 (7.03%), 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?

Carnival holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.626 Hold/Accumulate Upgraded

Predicted Opening Price for Carnival Corporation of Wednesday, April 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.