- Shares of CCL opens well on the defensive on turnaround Tuesday.
- US markets open with moderate losses as risk rally fades.
After recording fresh 3-month tops in the $25.30 region at the beginning of the week, shares of Carnival Corporation (CCL) are now shedding some ground and receding to the sub-$23.00 zone amidst the generalized bearish bias in the US markets.
Indeed, the cruise-ship company is giving away part of the recent strong gains while the bullish sentiment keeps looking for further catalysts to extend the upbeat momentum other than hopes of a firm recovery,
NYSE: CCL breaches $23.00
CCL has managed to reclaim the $25.00 neighbourhood on Monday, or new 3-month peaks. This area is also coincident with a Fibo retracement of the 2020 drop at $24.66 and the 100-day SMA.
Furthermore, CCL more than doubled its price per share since 2020 lows recorded in April around $7.80 to Monday’s tops near $25.30. That said, the next target on the upside emerges at $29.87 (50% Fibo retracement of the 2020 drop) ahead of the 200-day SMA, today at $34.72, and finally $45.04 (February's top).
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