Carnival Now Looks in Ship Shape for the High Seas – RealMoney – RealMoney

By BRUCE KAMICH May 17, 2023 | 03:07 PM EDT Stocks quotes in this article: CCL Carnival Corp. ( CCL) has largely traded sideways since last June, but below deck I am seeing some positive technical clues. Let's check with our travel agent and look at the charts.

In the daily bar chart of CCL, below, I can see a pattern of higher lows from early October. The shares made a high in February but it has not been challenged. CCL has crossed the 50-day and 200-day averages a number of times but is now above these two math-driven indicators.

In the weekly Japanese candlestick chart of CCL, below, I see improving technical conditions. The shares are above the bottoming 40-week moving average line.

The weekly OBV line is up from its June low. The MACD oscillator is just slightly below the zero line.

In this daily Point and Figure chart of CCL, below, I can see that the shares reached an upside price target.

In this weekly Point and Figure chart of CCL, below, I can see a potential price target in the $21 area.

Bottom-line strategy:Inside passage, outside passage, Caribbean, Canada, Panama Canal -- whatever your interest there is probably a cruise for you.Meanwhile, you might consider booking a long position in CCL risking to $8. The $21 area is my price target for now. Add to longs above $12.

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Carnival Now Looks in Ship Shape for the High Seas - RealMoney - RealMoney