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|It was a third positive week after 4 consecutive negative weeks for the Carnival Corp. (CCL). During the week, the CCL gained 2.35 points, or 4.70%, and closed at 52.40 on Friday, January 11, 2019. It was the best weekly gain since November 2, 2018. Weekly volume was 10% above average. |
Long-term trend: [See CCL long-term trend chart]
A long-term downtrend had started on September 26, 2018 at 67.69 and reached 45.64 on December 26, 2018. CCL lost 22.05 points, or 32.57%, in 13 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 43.43 and resistance is at 59.11. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
Medium-term trend: [See CCL medium-term trend chart]
A medium-term downtrend had started on November 28, 2018 at 62.52 and reached 45.64 on December 26, 2018. CCL lost 16.88 points, or 27.00%, in 4 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (36.41) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. CCL may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
Weekly Technical Indicators: [See CCL weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since December 7, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
Short-term trend: [See CCL short-term trend chart]
A short-term uptrend had started on December 26, 2018 at 45.64 and reached 52.77 on January 9, 2019. CCL gained -7.13 points, or -15.62%, in 14 days. The price is now at the 5.19% retracement level.
Daily Technical Indicators: [See CCL daily technical indicators chart]
Daily Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is 127.38% higher then one year average. It indicates the period of high volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.