CCL.L closes higher for the 4th day in a row
Moving higher for the 4th day in a row, CCL.L ended Thursday at 4774.00 gaining £67.00 (1.42%). Today's closing price of 4774.00 marks the highest close since June 4th. Closing above Wednesday's high at 4744.00, the share confirms its breakout through the previous session's high having traded £85.00 above it intraday.
Thursday's trading range was £144.00 (3.05%), that's above last trading month's daily average range of £90.25. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.
Unable to break through the key technical resistance level at 4807.00, Carnival closed below it after spiking as high as 4829.00 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. After spiking up to 4829.00 during the day, the stock found resistance at the 20-day moving average at 4780.85.
The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish. CCL.L managed to break above the 100-day moving average at 4757.23 today for the first time since May 8th.
As prices are trading close to June's high at 4873.00, upside momentum could speed up should the share mark new highs for the month.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being very bearish.
Market Conditions for Carnival plc
|2 Consecutive Lower Closes||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Bearish Bounce off SMA 100||TQ Pro Members Only|
|Bullish Hikkake Pattern||TQ Pro Members Only|
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