CCL Stock Price: Carnival Corp plummets to the $17.00 area
|- Shares of Carnival Corp. are dropping to the $17.00 region.
- New coronavirus concerns hurt the sentiment among traders.
Carnival Corporation (CCL) is navigating in multi-day lows in the $17.00 region in the second half of the week, coming under heightened downside pressure for the third session in a row.
In fact, and after reaching 3-month tops beyond $25.00 earlier in the week, renewed jitters surrounding the coronavirus pandemic motivated sellers to step in and take control of the market’s sentiment. In addition, the broad-based offered bias is also fuelled by further evidence of the deterioration of the US labour market (as per weekly Claims) and the Fed’s view that the recovery could take longer than forecasted.
NYSE: CCL weaker, focused on COVID-19
CCL is shedding further ground following Monday’s tops, area coincident with a Fibo retracement (of the 2020 drop) and the proximity of the 100-day SMA.
At the moment, CCL is down 15.69% at $17.35 and faces the next support at $15.00 (low May 22) seconded by $14.22 (55-day SMA) and then $11.00 (monthly low May 14). On the upside, the initial barrier emerges at $25.28 (monthly high Jun.8) followed by $29.87 (50% Fibo retracement of the 2020 drop) ahead of the 200-day SMA, today at $34.61.
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.