CCL.L closes within prior day's range after lackluster session


Carnival plc (CCL.L) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team

Highlights

CCL.L closes above its opening price after recovering from early selling pressure
CCL.L finds buyers again around 4917.00
CCL.L closes within previous day's range after lackluster session
CCL.L ends the day indecisive

Overview

CCL.L ended Thursday at 4946.00 edging lower £15.00 (-0.3%). Trading up to £28.00 lower after the open, Carnival managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior 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 May 17, 2018):

Daily technical analysis candlestick chart for Carnival plc (CCL.L) as at May 17, 2018

Thursday's trading range was £56.00 (1.13%), that's below last trading month's daily average range of £73.70. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

After having been unable to move lower than 4912.00 in the previous session, the stock found buyers again around the same price level today at 4917.00.

Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.

With prices trading close to this year's high at 5090.00, upside momentum might accelerate should the share be able to break out to new highs for the year.


Market Conditions for CCL.L as at May 17, 2018

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