Carnival Cruise Lines (CCL) is a stock that I've written about in the past and I wanted to update the price objective for this fine company.
The price objective for CCL as arrived at by vertical count is $79. Trendline resistance at $40, $48, and $57. Support at $37, $34, and $27. Some are still left holding the bag with their July buys at $42. With the stock at $39 3/4 and having just given a Bullish Catapult at $41, when this overhead and trendline resistance is cleared, CCL should continue it's ascent and continue to be a market leader. The stock is up 45% thus far this year, doubling the 22% of the
S&P 500, and handily beating the NASDAQ Comp which is up 33% YTD.
Royal Caribbean Cruise Lines (RCL), another fine company, has a more modest multiple, but has trailed the market gaining 18% on the year. RCL is coming off a Bearish Signal Reversed which led to a break of the BRL, however, the stock is one box away from a High Pole at the Bearish Resistance Line at $29. Both stocks have bullish RS and are in X's.
Enjoy the rest of the weekend. By the way, "Prince of Egypt" was a *** 1/2 gem that will be enjoyed by both adults and children for many years to come.
Take care,
Bruce (The Roger Ebert of the P&F Charting thread) |
