$CCL Swing Trade Analysis
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In this post, I will be going in detail with regards to my view of 
CCL from a technical perspective.
As of the time that I am writing this post,CCL closed at $17.69 with a pre-market trading value of $17.75. Currently, I am bullish long-term on CCL unless there are new developments that impact the fundamentals of the cruise industry negatively. I also have multiple entries on CCL in which I averaged up to an average cost price of $16.02.
Technical Analysis
I believed that I have broken down the technical aspect ofCCL's chart quite clearly in the candlestick chart above, but just to add on a few things:
1. With regards to my price target, if an Ascending Triangle forms, I will take profit whenCCL breaks out towards the upside into the downtrend trading channel which I have drawn in the charts. From there, I may or may not re-enter a position. This will depend on how CCL reacts to the channel.
2. With regards to my price target, if a Rising Wedge form, I will take profit whenCCL breaks out from the Rising Wedge towards the downside. However, because the downtrend that came before the Rising Wedge is a downtrend that was driven by COVID-19, a black swan event, it is likely that if market sentiments are bullish enough due to the wide availability of COVID-19 vaccines, positive news regarding the cruise industry, etc., prices could still break out towards the upside. As such, these require further monitoring.
3. However, if neither an Ascending Triangle nor a Rising Wedge form, where the market remains uncertain, I will likely hold my position while averaging up/down accordingly, PROVIDED that there are no fundamental changes towards the company and the industry itself.
Disclaimer
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment, or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.
If this post has helped you out in making your investment/trading decision, do it give it a like, and follow for more updates regarding this ticker symbol!
CCL from a technical perspective.As of the time that I am writing this post,
CCL closed at $17.69 with a pre-market trading value of $17.75. Currently, I am bullish long-term on CCL unless there are new developments that impact the fundamentals of the cruise industry negatively. I also have multiple entries on CCL in which I averaged up to an average cost price of $16.02.Technical Analysis
I believed that I have broken down the technical aspect of
CCL's chart quite clearly in the candlestick chart above, but just to add on a few things:1. With regards to my price target, if an Ascending Triangle forms, I will take profit when
CCL breaks out towards the upside into the downtrend trading channel which I have drawn in the charts. From there, I may or may not re-enter a position. This will depend on how CCL reacts to the channel.2. With regards to my price target, if a Rising Wedge form, I will take profit when
CCL breaks out from the Rising Wedge towards the downside. However, because the downtrend that came before the Rising Wedge is a downtrend that was driven by COVID-19, a black swan event, it is likely that if market sentiments are bullish enough due to the wide availability of COVID-19 vaccines, positive news regarding the cruise industry, etc., prices could still break out towards the upside. As such, these require further monitoring.3. However, if neither an Ascending Triangle nor a Rising Wedge form, where the market remains uncertain, I will likely hold my position while averaging up/down accordingly, PROVIDED that there are no fundamental changes towards the company and the industry itself.
Disclaimer
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment, or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.
If this post has helped you out in making your investment/trading decision, do it give it a like, and follow for more updates regarding this ticker symbol!
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With the announcement that CCL has incurred a near $3 billion loss in Q3, and a sale of $1 billion in stock to bolster its cash reserves (which will result in a dilution of shareholders), CCL prices have fallen back to our entry level @ 16.02 (CCL closed at 16.03 post-market). This strengthens the bearish market sentiment towards CCL and the cruise industry. As such, I believe that this announcement will push CCL towards the dynamic support level of the Ascending Triangle / Rising Wedge at around $14.68 to $15.10 price level. As such, I will be exiting this position temporarily and re-enter once this news has been priced in (which i expect it to settle at around $14.68 to $15.10.
Penafian
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