CCL Stock Price: Carnival Corp remains under pressure below $21.00

Shares of CCL are prolonging the decline to the $21.00 area.
US markets open mixed ahead of the FOMC event.

Pablo Piovano FXStreet

Shares of Carnival Corporation (CCL) are losing ground for the second session in a row so far this week, coming under further pressure following Monday’s multi-month tops beyond the $25.00 mark.

In fact, the cruise-ship company sheds extra ground amidst the generalized cautious stance in the markets ahead of the FOMC meeting and press conference by Chief J.Powell.

In addition, CCL remains under the microscope, as the sector is still under scrutiny due to the impact of the coronavirus pandemic. Furthermore, share prices retreated on Tuesday in response to news that its cruise-line Cunard called off all trips for the next five months.

NYSE: CCL drops to 4-day lows

CCL continues to ease ground following Monday’s fresh 3-month tops above the $25.00 mark per share. This area is also coincident with a Fibo retracement (of the 2020 drop) and the proximity of the 100-day SMA.

At the moment, CCL is down 9.46% at $20.83 and faces the next support at $18.22 (23.6% Fibo of the 2020 drop) seconded by $14.23 (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.

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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