AI
Wednesday, July 11, 2018 12:24:53 PM
Carnival Corporation (NYSE:CCL) has steadily declined since late January when it peaked at $72.70 a share. The stock is now trading below all of its key moving averages which puts the stock a weak technical chart position. The next important support level for CCL stock will be around the $54.00 level. This area is where the 200-week moving average is currently and should serve as support when tested. Pattern will be very important to follow over the next few weeks in this stock. Should there be consolidation above the 200-week moving average then traders will have to look lower for the next major support level. As of this time, the $54.00 level looks like solid for a bounce in the shares.
Nicholas Santiago
InTheMoneyStocks
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