CCL Stock Price: Carnival Corp drops to the sub-$20.00 area
|- Shares of Carnival Corp. are down markedly below the $20.00 level.
- US markets set to open slightly on the positive side on Wednesday.
Carnival Corporation (CCL) is set to open well on the defensive on Wednesday’s session, dropping below the key $20.00 barrier per share despite the generalized better mood in the US markets.
Indeed, CCL is suffering recent news that its rival Norwegian Cruise Line Holdings (NCLH) will cancel all of its cruises until October. The move by NCLH is likely to be followed by its competitors Carnival Corp. and Royal Caribbean (RCL).
Supporting the bearish stance, coronavirus cases continue to rise and this carries the potential to undermine the upbeat mood in the global markets on the back of a likely V-shaped US recovery.
NYSE: CCL stays offered below $20.00
At the moment, CCL is retreating 5.68% at $19.25 and a breach of $16.75 (low Jun.11) would aim for $15.00 (low May 22) and finally $14.51 (55-day SMA). On the other hand, the next up barrier is located at $22.30 (100-day SMA) followed by $25.28 (monthly high Jun.8) and then $29.87 (50% Fibo retracement of the 2020 drop).
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