The Greedy Trader Weekly Analysis
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Carnival Corp. (CCL)

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Summary:
Weekly :Overbought sectorBroken trend resistance line
Daily :Bearish Downside Tasuki Gap CandlestickPrice has crossed above the 50 Day Moving AverageTrend support at 16.62The price moved above the moving average in the center of the Bollinger Bands
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It was a second consecutive positive week for the Carnival Corp. (CCL). During the week, the CCL gained 2.19 points, or 15.85%, and closed at 16.01 on Friday, November 13, 2020. It was the best weekly gain since August 28, 2020. Weekly volume was 228% above average.

CCL is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See CCL long-term trend chart]
A long-term downtrend had started on January 30, 2018 at 72.70 and reached 7.80 on April 2, 2020. CCL lost 64.90 points, or 89.27%, in 113 weeks. The chart has formed a Broadening Descending Wedge chart pattern. 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 June 8, 2020 at 25.28 and reached 12.11 on October 29, 2020. CCL lost 13.17 points, or 52.10%, in 20 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (11.98) is broken. A broken support is considered to be a long-term bullish signal. 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 above its signal line since May 29, 2020. The distance between MACD and the signal line is low, but getting bigger. 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 October 29, 2020 at 12.11 and reached 19.86 on November 9, 2020. CCL gained -7.75 points, or -64.00%, in 11 days. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (16.62) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a short-term trend.

Daily Technical Indicators: [See CCL daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since November 4, 2020. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Candlestick pattern: [See CCL candlestick chart pattern]
On Friday the chart has formed a Bearish Downside Tasuki Gap Candlestick pattern. This is a rare continuation formation that appears in a strongly downward moving market. The reliability of the Bearish Downside Tasuki Gap pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Downside Tasuki Gap Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.24
Williams' Percentage Range (W%R) 60.30
Lane's Stochastic (%D-Slow) 54.37
Greed/Fear Indicator (GFI) 50.12
Moving Average Converg./Diverg. (MACD) 0.03
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.31
Williams' Percentage Range (W%R) 60.30
Lane's Stochastic (%D-Slow) 26.60
Greed/Fear Indicator (GFI) 39.42
Moving Average Converg./Diverg. (MACD) -2.71
Trading Signals
Description Value Chart
Upper Bollinger Band 18.04
Weekly Trendline Support 16.62
Daily Stochastic Crossing 16.23
Price 16.01
50 Day Moving Average 15.21
20 Day Moving Average 14.61
Weekly Stochastic Crossing 14.38
Parabolic System 14.19
Quarterly Trendline Resistance 14.15
Monthly Trendline Resistance 12.92
Lower Bollinger Band 11.97
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 8
Industry Hotels, Resorts & Cruise Lines 36
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 19.86
High Date 11/09/2020
Low 14.88
Low Date 11/12/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Support
Resistance 23.45
Support 16.62
Low 12.11
Low Date 10/29/2020
High 19.86
High Date 11/09/2020
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 12.92
Support 11.54
High 18.92
High Date 09/08/2020
Low 12.11
Low Date 10/29/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 14.15
Support 11.98
High 25.28
High Date 06/08/2020
Low 12.11
Low Date 10/29/2020
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status
Resistance
Support
High 72.70
High Date 01/30/2018
Low 7.80
Low Date 04/02/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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