Technical Analysis of Financial Markets

Thursday, October 05, 2006

Carnival Corp. (CCL)

Global cruise vacations operator Carnival is currently looking overbought. Today’s session closed just shy of the day high $48.75. This level has served as resistance and support before; a short position at current prices for a target towards the uptrend support may provide a low risk entry should this level act as resistance once more. Stop loss: close above $50. Matrix Research has downgraded Carnival from Hold to Sell.

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