Chart of Day: Carnival (CCL) – 1/20

Keep an eye on Carnival (CCL).

After a brief pullback, the cruise stock appears to have caught double bottom support, and is starting to pivot higher. From its last price of $17.28, we’d like to see it initially refill its bearish gap around $18.50. We also have to consider that cruise bookings are already hitting record highs this year, according to reports.


In fact, according to a Reuters report from early last month, travelers “across all income and budget levels” have been booking cruises for 2024 at greater volumes than even before the pandemic. Roughly 35.7 million passengers are expected to cruise in 2024, up from 31.5 million in 2023 — which is 6% more than the amount of passengers that set sail in 2019, per the Cruise Lines International Association (CLIA). According to InsureMyTrip, travel insurance policy sales for cruises have hit numbers in the last few weeks not seen in years.

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