Carnival Stock Price (CCL) rises 20% ahead of Quarterly Earnings

• Carnival Stock Price (NYSE: CCL) gained 20% in the previous week.
• CCL Stock Price sustains above both the EMA and prepares for golden crossover.
• Carnival Corporation scheduled the Quarterly earnings on June, 26 2023.

Carnival Stock Price (NYSE: CCL) gained 20% in the previous week and succeeded to break out of $13.00 hurdle level. From the past 2 months, CCL Price is rising upward by forming higher high swings. It shows the strength of bulls and buyers are trying to bring back the confidence of investors. 

Carnival Stock Price climbed above the 50 and 200 day EMA showcase uptrend. However, the prices had gone far away from the EMA, So minor retracement is possible to test the EMAs. Recently, The EMA displayed a golden crossover which boosted the confidence of investors. 

CCL Stock consolidated for 6 months in the wide range between $8.00 to $13.00. At present, the range expansion is visible and positive momentum is still intact. 

Carnival Stock performed well in 2023 and up by 98% on a YTD basis. From past 2 Quarters, the company is beating the EPS estimates which has created a hope for the revival. Therefore, analysts are estimating the directional move in the current earnings. 

Carnival Stock Price closed the previous session at $15.80 with an intraday rise of 0.25%. The market capitalization stands at $19.68 Billion. 

Will Carnival Stock perform after Quarterly Earnings?

Carnival Stock Price is in the recovery mode and forming a bullish trend reversal pattern. The positive momentum is visible ahead of quarterly earnings but it will be interesting to see how prices react after earnings. 

Carnival Corp scheduled the earnings on June 26, 2023. Market Analyst estimated the EPS of -0.336 and Revenue of $4.788 Billion. If the company succeeds to meet the estimates then it might positively impact the prices of stock. 

However, if the company missed the estimates then prices might revert in a downward direction. The technical analysis suggests, Carnival Stock Price has rallied a lot and momentum might take halt near to $18.00.

CCL Stock Price for five straight weeks

CCL Stock Price rises for 5 straight weeks which shows the strength of bulls. The next directional move will be visible only after the release of earrings. Till CCL Stock holds $13.00 support the prices are expected to remain in bulls grip. 

On the other hand, if the price drops below $13.00 support then bears will try to erode the previous gains. 

The MACD generated a positive crossover but the curve is reversing sideways. It indicates prices might enter consolidation for some time before deciding the further direction. The RSI at 78 denotes overbought territory, So short term correction is also possible. 

Conclusion

Carnival Stock Price (NYSE: CCL) rose 20% in the previous week ahead of Quarterly Earnings. The CCL Stock is in positive momentum but the prices might react violently after earnings. The technical analysis suggests, The upward momentum in CCL stock may take a halt near $18.00.

Technical levels

Resistance levels: $18.00 and $21.00

Support levels: $13.00 and $10.00

Disclaimer

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