CCL.L closes higher for the 4th day in a row


Carnival plc (CCL.L) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
CCL.L pushes through 100-day moving average
CCL.L unable to break through key resistance level
CCL.L fails to close above 20-day moving average
CCL.L closes higher for the 4th day in a row
CCL.L pushes through previous session high
TQ Sentiment
Technical Forecast:
Overview

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.

Daily chart for CCL.L
Volatility

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.

Support/Resistance

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.

Trend

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.

Order Flow

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.

Conclusion

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
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Break through SMA 50 TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
Bearish Break through SMA 100 TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

CCL.L breaks below prior session low

Jun 21, 2018
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