CCL.L closes lower for the 2nd day in a row


Carnival plc (CCL.L) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
CCL.L closes above its opening price after recovering from early selling pressure
CCL.L closes lower for the 2nd day in a row
CCL.L falls to lowest close since April 21, 2017
CCL.L closes within previous day's range after lackluster session
CCL.L ends the day indecisive
TQ Sentiment
Report Sentiment: 25% Bullish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, CCL.L ended Monday at 4468.00 edging lower £2.00 (-0.04%). Today's closing price of 4468.00 marks the lowest close since April 21, 2017. Trading up to £25.00 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for CCL.L
Volatility

Monday's trading range was £39.00 (0.88%), that's far below last trading month's daily average range of £83.40. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 4427.00. Prices are trading close to the key resistance level at 4520.00.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Selling might accelerate should prices move below the nearby swing low at 4427.00 where further sell stops could get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Carnival plc
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
White Candle TQ Pro Members Only
2 Consecutive Higher Closes TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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