Carnival Cruise Is Sinking, But Watch This Level
InTheMoneyStocks.com | Jul 11, 2018 02:16PM ET
Carnival (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 it in a weak technical position. The next important support level will be around $54, which 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, traders will have to look lower for the next major support level. As of this time, the $54.00 level looks solid for a bounce in the shares.
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