CCL.L closes within previous day's range
Carnival plc (CCL.L) Technical Analysis Report for Jul 13, 2018
CCL.L finished the week 0.37% higher at 4318.00 after losing £9.00 (-0.21%) today on low volume. Trading £22.00 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.
Friday's trading range was £65.00 (1.49%), that's slightly below last trading month's daily average range of £103.80. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly above average.
Prices are trading close to the key resistance level at 4344.00.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
While classical technical analysis indicates a bearish sentiment for the next trading day, our quantitative statistics show a different picture being slightly bullish.