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Could Carnival Corp. (CCL) sink in December?

  • Writer: RevAlerts
    RevAlerts
  • Dec 4, 2024
  • 1 min read


We see a correction happening this December. Why?


Primary technical reasons:

- Wave 5 on 8h candles

- Divergence from Stoch RSI


Other reasons:

CCL has surged 92% this year. Such rapid gains can sometimes lead to profit-taking by investors, causing short-term price declines.


Debt Levels: Carnival carries a significant debt load, a remnant from the pandemic period. This high leverage could weigh on investor sentiment.


Competitive Landscape: The cruise industry is highly competitive, with companies like Royal Caribbean and Norwegian Cruise Line also vying for market share.


Is all this enough to take CCL into troubled waters, at least for December?

We reckon shorts will agree.



 
 

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