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

Carnival plc (CCL.L) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team


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


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 Candlestick Chart (CCL.L as at Apr 16, 2018):

Daily technical analysis candlestick chart for Carnival plc (CCL.L) as at Apr 16, 2018

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.

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

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

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

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