- Shares of Carnival Corp. are bouncing sharply from sub-$17.00 area.
- US markets opened with strong gains following Thursday’s pullback.
Carnival Corporation (CCL) has regained the smile at the end of the week, managing well to leave behind Thursday’s negative price action and rebounding to the vicinity of the key $20.00 mark per share, up around 10% at the time of writing.
In fact, ACB is markedly higher in line with the rest of the US markets in a context of improved sentiment in the riskier assets. It is worth recalling that US markets had their worst session on Thursday since mid-March on renewed fears of a second wave of contagion from COVID-19, while the sour mood at the FOMC meeting on Wednesday also added to the deteriorated scenario.
NYSE: CCL firmer and targeting $20.00 and above
CCL is navigating fresh 2-day highs and approaches the key barrier at $20.00, just ahead of the 100-day SMA at $22.89.
At the moment, CCL is gaining 13.25% at $19.75 and faces the next up barrier at $22.89 (100-day SMA) followed by $25.28 (monthly high Jun.8) and then $29.87 (50% Fibo retracement of the 2020 drop). On the flip side, a breach of $16.75 (low Jun.11) would aim for $15.00 (low May 22) and finally $14.37 (55-day SMA).
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