CCL Stock Price: Carnival Corp set to bounce as Trump says “do not be afraid of the virus”
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Subscribe to Premium- NYSE:CCL is treading waters this week, but has some bullish potential.
- President Trump left the hospital and called on Americans not to fear COVID-19.
- Customers may be encouraged to board a cruise ship, yet that call may also backfire.
"Don't be afraid of it" – President Donald Trump upon making a triumphant return to the White House after three days in hospital following his positive coronavirus test. Will holiday goers follow the Commander In Chief's bravado and board cruise ships? That seems to be what investors are thinking, pushing Carnival Corp (NYSE: CCL) higher in premarket trading.
The cruise clientele mostly consists of elderly people, like Trump. The Diamond Princess affair – in which COVID-19 perpetuated in cruise ship off the shores of Tokyo – scared may and sent cruise stocks tumbling. Since then, knowledge of the virus has grown and Carnival made an attempt to resume normal operations.
Alongside a significant financial advantage, CCL shares have recovered during the summer but remain stuck of late. Trump's defiant message may send them back higher.
However, there are reasons to remain worried. First, the president's doctors said he is not out of the woods and will remain under medical supervision at the White House. He may still return to the hospital.
Second, COVID-19 cases are rising in more and more US states as temperatures fall and people stay indoors. New York's request to impose restrictions in several areas is a warning sign. Carnival receives clients also from Europe, where infections are surging as well. Madrid is under lockdown and Parisians will find shuttered bars from Tuesday.
Overall, there is a risk that the current rise may falter once again.
NYSE: CCL stock price
NYSE:CCL closed Thursday's session at $15.61, down some 2.38%, continuing the tepid trading from this week.
Resistance awaits at $18.53, the highest closing level in September, and at $20, a round number. Support is at $13.74, the late September low, followed by $10, a level that was last ween at the beginning of the summer.
See Stocks to surge on Trump's discharge hopes, four reasons why a crash may follow
- NYSE:CCL is treading waters this week, but has some bullish potential.
- President Trump left the hospital and called on Americans not to fear COVID-19.
- Customers may be encouraged to board a cruise ship, yet that call may also backfire.
"Don't be afraid of it" – President Donald Trump upon making a triumphant return to the White House after three days in hospital following his positive coronavirus test. Will holiday goers follow the Commander In Chief's bravado and board cruise ships? That seems to be what investors are thinking, pushing Carnival Corp (NYSE: CCL) higher in premarket trading.
The cruise clientele mostly consists of elderly people, like Trump. The Diamond Princess affair – in which COVID-19 perpetuated in cruise ship off the shores of Tokyo – scared may and sent cruise stocks tumbling. Since then, knowledge of the virus has grown and Carnival made an attempt to resume normal operations.
Alongside a significant financial advantage, CCL shares have recovered during the summer but remain stuck of late. Trump's defiant message may send them back higher.
However, there are reasons to remain worried. First, the president's doctors said he is not out of the woods and will remain under medical supervision at the White House. He may still return to the hospital.
Second, COVID-19 cases are rising in more and more US states as temperatures fall and people stay indoors. New York's request to impose restrictions in several areas is a warning sign. Carnival receives clients also from Europe, where infections are surging as well. Madrid is under lockdown and Parisians will find shuttered bars from Tuesday.
Overall, there is a risk that the current rise may falter once again.
NYSE: CCL stock price
NYSE:CCL closed Thursday's session at $15.61, down some 2.38%, continuing the tepid trading from this week.
Resistance awaits at $18.53, the highest closing level in September, and at $20, a round number. Support is at $13.74, the late September low, followed by $10, a level that was last ween at the beginning of the summer.
See Stocks to surge on Trump's discharge hopes, four reasons why a crash may follow
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