CCL Stock Price: Carnival Corp looks for direction near $16.00
|- Shares of Carnival Corp. trade around Thursday’s close near $16.00.
- Coronavirus concerns keep US markets under pressure on Friday.
Carnival Corporation (CCL) trades without a clear direction at the end of the week and is now hovering around the $16.00 mark ahead of the opening bell in Wall St.
In fact, price action in the cruise-company remains tilted towards the bearish side so far this week. Indeed, CCL managed to regain some poise after hitting fresh monthly lows a tad above $15.00 on Thursday, just to close the session at $16.00 per share.
In the meantime, the travel-company remains well under pressure against the current backdrop of rising coronavirus fears, fresh outbreaks in Europe and Asia and following news that agency S&P downgraded the company’s credit rating to junk on the back of poor demand prospects for this year and the next one.
On the broader picture, all three main US stock benchmark indices are expected to open Friday’s session slightly on the defensive, partially fading Thursday’s advance.
NYSE: CCL stays close to monthly lows
At the moment, CCL is gaining 0.69% at $16.10 and faces the next up barrier at $20.36 (100-day SMA) followed by $25.28 (monthly high Jun.8) and then $29.87 (50% Fibo retracement of the 2020 drop). On the other hand, a breach of $15.11 (monthly low Jun.25) would expose $11.00 (monthly low May 14) and finally $7.80 (2020 low Apr.2).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.