Carnival Corporation : End of the technical recovery
Entry price | Target | Stop-loss | Potential |
---|
$34.68 |
$0 |
$35.5 |
+100% |
---|
The share is reaching a technical resistance and could begin a bearish trend.
Technically, the security could run out of steam close to the USD 35.3 resistance. Indeed, the stock is moving in an upward trend in the short term but it could know a halt. In this context, the downward movement could improve and it should expect a return to USD 33.3. Indicators that show an overbought situation confirm this scenario.
The upside seems limited as shown by fundamentals and technical configuration. In contact with the USD 35.3 resistance, a movement of consolidation could return the stock towards the USD 33.3 short term support. As a result, the most aggressive investors could take a short position near USD 35.3 but they need to set a stop loss above this resistance because the crossing of this level would invalidate our scenario.
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