CCL Stock Price: Carnival Corp looks firmer and targets $20.00

Shares of Carnival Corp. are firm and approach the $20.00 level.
US markets regain poise and seen opening on the positive ground.

Pablo Piovano FXStreet

Carnival Corporation (CCL) is expected to reverse the last couple of daily pullbacks and open on the positive side on Friday, in line with the broader US markets.

Indeed, CCL has apparently recovered the smile at the end of the week and is seen approaching the key barrier at the $20.00 mark per share, as investors seem to be focusing past the pick-up in coronavirus cases and looking to the re-opening of the economy.

In tandem with the positive performance of CCL during the pre-market activity, US stock benchmark indices are adding to Thursday’s gains, bolstered by news that China is ramping up its purchases of US farm products, always under the Phase 1 trade deal.

NYSE: CCL stays bid just below $20.00

At the moment, CCL is gaining 2.39% at $19.30 and faces the next hurdle at $21.75 (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 $16.75 (low Jun.11) would aim for $15.00 (low May 22) and finally $14.73 (55-day SMA).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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