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.

Pablo Piovano FXStreet

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).

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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