CCL Stock Price: Carnival Corp loses the grip below $18.00

Shares of Carnival Corp. are down markedly below the $20.00 level.
US markets expected to open in the red territory on COVID fears.

Pablo Piovano FXStreet

Carnival Corporation (CCL) remains under heavy pressure on Thursday, breaking below the $18.00 mark per share amidst a broad-based deteriorated context in the risk-associated universe.

Indeed, the selling pressure around CCL has gathered extra pace in the second half of the week in response to lower-than-expected fiscal Q2 results, with revenues shrinking beyond estimates due to the coronavirus crisis.

In tandem with the negative performance of CCL during the pre-market activity, US stock benchmark indices are seen adding to Wednesday’s losses, always on the back of rising concerns over the recent pick-up in coronavirus cases.

NYSE: CCL remains weak and below $20.00

At the moment, CCL is retreating 6.45% at $17.85 and a breach of $16.75 (low Jun.11) would aim for $15.00 (low May 22) and finally $14.62 (55-day SMA). On the other hand, the next up barrier is located at $22.02 (100-day SMA) followed by $25.28 (monthly high Jun.8) and then $29.87 (50% Fibo retracement of the 2020 drop).

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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