Could Carnival Cruise (CCL) sink in December?

4 ธ.ค. 2024

https://www.tradingview.com/x/YpFRvUN7/

We see a correction happening this December. Why?

Primary technical reasons:
- Wave 5 on 8h candles
- Divergence from Stoch RSI

Other reasons:
CCL has surged 92% this year. Such rapid gains can sometimes lead to profit-taking by investors, causing short-term price declines.

Debt Levels: Carnival carries a significant debt load, a remnant from the pandemic period. This high leverage could weigh on investor sentiment.

Competitive Landscape: The cruise industry is highly competitive, with companies like Royal Caribbean and Norwegian Cruise Line also vying for market share.

Is all this enough to take CCL into troubled waters, at least for December?
Shorts will agree.

10 ธ.ค. 2024

บันทึก

DECEMBER 09

CCL dropped 4.53% today, aligning with a broader market turndown.
We see a further correction at least to the $24.50 area.
Let's see what kind of candles print when it hits support.

Despite today's drop, the overall technical outlook suggests a positive trajectory. However, market volatility and economic data can influence short-term movements. New shorts benefited from this today. A few more rocky patches this December before the ship levels out.

Be alert.
Trade green.