CARNIVAL CRUISE LINE ($CCL) 🔱 | Is CCL Ready to Set Sail Again?
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🚢 The Cruise line industry seems to be on the rebound in terms of business, and many stocks once beaten down by COVID seem to be on the up-and-up as well. Given that, it isn't surprising to see Carnival Cruise Line's stock breaking out of the COVID bear and into a bullish uptrend.
Despite some concerns that it might be too early to book a ride on the bull cruise, for example, due to the reality that cruise ships need permission from port authorities they don't necessarily have yet, we still think there is logic in riding the waves here. Let's look for a long setup.
Resources: fastcompany.com/90503385/what-pandemic-carnival-cruise-bookings-soar-600-for-august-trips + benzinga.com/analyst-ratings/analyst-color/20/06/16169346/morgan-stanley-deboards-from-cruise-lines-bearish-on-carnival-norwegian-and-royal-c + telegraph.co.uk/travel/cruises/articles/carnival-cruise-ship-interview-when-can-we-cruise/
💹 Drop a comment asking for an update, we do NEW setups every day 💹
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1. Find the trend.
- Fractal Trend is showing a newly formed uptrend (Navy colored bars) on the 1-hour timeframe.
2. Confirm the strategy.
- With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Navy colored lines) and/or bullish S/R levels plotted by Directional Bias (Navy colored lines).
3. Find an entry at support.
- Our entry is the S1 bullish orderblock and S/R flip range. The idea here is that if we pull back before we fill the gap above, this level is the most logical to pullback to while still retaining bullish momentum.
4. Find an exit and set a stop to ensure a solid R:R.
- The target for this trade is the R1 bearish orderblock above the gap. Meanwhile, our stop is placed below S1.
5. Determine other levels of interest for future reflection and consideration.
- Other levels of interest include the S2 orderblock which is also a major price pivot point and expected support come a retest, and the R2 bearish S/R flip as resistance. A break below S2 would end any bullish bias on CCL, while a break above R2 would show continued bullish momentum.
Overall we think CCL has more room to run. We have determined our long setup to have a high probability of working if we do get the pullback, although, with the way this market has been moving, that is a big "if."
Good luck everyone!
Despite some concerns that it might be too early to book a ride on the bull cruise, for example, due to the reality that cruise ships need permission from port authorities they don't necessarily have yet, we still think there is logic in riding the waves here. Let's look for a long setup.
Resources: fastcompany.com/90503385/what-pandemic-carnival-cruise-bookings-soar-600-for-august-trips + benzinga.com/analyst-ratings/analyst-color/20/06/16169346/morgan-stanley-deboards-from-cruise-lines-bearish-on-carnival-norwegian-and-royal-c + telegraph.co.uk/travel/cruises/articles/carnival-cruise-ship-interview-when-can-we-cruise/
💹 Drop a comment asking for an update, we do NEW setups every day 💹
Like & Follow to help the community grow! 🐣
---
1. Find the trend.
- Fractal Trend is showing a newly formed uptrend (Navy colored bars) on the 1-hour timeframe.
2. Confirm the strategy.
- With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Navy colored lines) and/or bullish S/R levels plotted by Directional Bias (Navy colored lines).
3. Find an entry at support.
- Our entry is the S1 bullish orderblock and S/R flip range. The idea here is that if we pull back before we fill the gap above, this level is the most logical to pullback to while still retaining bullish momentum.
4. Find an exit and set a stop to ensure a solid R:R.
- The target for this trade is the R1 bearish orderblock above the gap. Meanwhile, our stop is placed below S1.
5. Determine other levels of interest for future reflection and consideration.
- Other levels of interest include the S2 orderblock which is also a major price pivot point and expected support come a retest, and the R2 bearish S/R flip as resistance. A break below S2 would end any bullish bias on CCL, while a break above R2 would show continued bullish momentum.
Overall we think CCL has more room to run. We have determined our long setup to have a high probability of working if we do get the pullback, although, with the way this market has been moving, that is a big "if."
Good luck everyone!
Nota
As you can see via the original chart preview below our "on chart" text & drawings move around & change size after posting a "TV Idea" and it can be very difficult to predict what will and will not be affected by TV's scaling!As such we can only get these charts to look so good at times. If you have any suggestions on how to solve this issue going forward we would love it if you could let us know!
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