Trends are close to everything, and technical analysis is the sum of all expectations, dreams and hopes. If you understand some technical analysis you can reduce your losses and narrow down the best exit and entry points. Nothing is random, and for us it is all about probabilities as we scan the entire market.
SHORT TERM COMMENTARY: Carnival Corp. [Wednesday 22 Mar. 2017]:
Buy Candidate ( 6.38) Evalutation Upgraded
Carnival Corp. is up by 0.90% yesterday from USD 57.76 to USD 58.28 In the last 10 days the price of Carnival Corp. has been rising in a total of 7 out of 10 days, and is up by 4.05% over the past 2 weeks. Volume also increased last day along with the price which is positive technical sign, and in total there was traded 1,49 million more shares than the day before. In total there were bought and sold 4,86 million shares for approx. USD 283,41 million.
3 MONTH TREND
Carnival Corp. lays the middle of a weak rising trend on short term and further rise within the trend is signalized. Given the current short term trend the stock is expected to rise 9.2% during the next 3 months and with 90% probability hold a price between USD 61.57 and USD 65.64 at the end of this period.
Only positive signals in the chart today. Carnival Corp. holds buy signals from both short- and long term moving averages. In addition there is a general buysignal from the relation between the two signals where the short term average is above the long term average. On corrections down there will be some support from the lines at USD 57.55 and USD 53.82. A break down bellow any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point at Tue. 17 January 2017 and this indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
* Golden Cross Signal is when the shortterm moving average, the longterm moving average and priceline meets in a special combination. This combination is very rare and are often followed by long and strong gains for the stock in question.
RELATIVE STRENGHT INDEX (RSI)
RSI14 is 70 and the stock is currently not being overbought or oversold?
SUPPORT AND RESISTANCE
On the downside the stock finds support just bellow today's level from accumulated volume at USD 57.76, USD 57.01 and USD 56.10 There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well in the next couple of days.
With no support from accumulated volume bellow todays level the risk is increased as drop bellow the support at 57.76 may give a very hugh drop in the stockprice.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. Last day they the stock moved USD 1.35 between high and low and this equals 2.36%. For the last week the stock has had an daily average volatility of 1.21%.
Carnival Corp. holds several positive signals and are within a weak rising trend. As the old saying says. "Let the trend be your friend.'". We therefor consider to be a good choice at current levels and are expecting further gains during the next 3 months. We have upgraded our recommandation for this stock from Weak Buy Candidate to Buy Candidate since last evaluation.
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