CCL 200 sma
and p channel support for a long entry.
Monthly is back testing previous resistance area showing first positive momo since april 2018
Daily has divergence help
CVC1 trade ideas
Carnival Corp Long Term PlanAlthough Carnival Corp was one of the most effected companies by COVID and closed 2020 with a $2.2 Billion net loss. However they finished the year with $9.5 Billion in liquid cash. Which is enough to survive 2021.
Add to that the distribution of the vaccine and the multitrillion stimulus plan would both play a key role in pushing the price into higher levels.
In term of technicals, the price has been traded in an ascending triangle for the past 10 months. And I believe it's now in an accumilation zone.
I expect by breaking above $24 neck line the price will be heading towards the pre pandimec levels at $42.
This is not a financial advice. Do your own research and have a good day all 🙏.
Carnival Corp. Long Term PositionAs the chart shows, the price is being traded in an ascending triangle for the past 10 months. And according to the analysis the price now in an accumilation area.
After the breakout the price is targeting $42 which is the pre pandemic levels.
In term of fundamentals, the company was one of the most effected companies by COVID. So the distribution for the vaccine and the multi trillion stimulus plan will both play a key role in pushing the price higher.
It is not a financial advice. Make sure to do your own research and have a good day all 🙏.
CCL Wave 5Surprisingly Carnival Cruise popped up on my scanner and has a good Elliott Wave count. The ABC correction is following parallel channel and demand zone lines up with the mid-line of the parallel channel. Wave 2 and Wave 4 are alternating and the 0.382 lines up with the demand zone. Looking for a play after earnings report this week.
Bull FlagCCL is also trading in a cup and handle pattern. The Bull flag break out, if it occurs, could possible put CCL in a position to break from cup and handle pattern with long entry at 25.40.
Bull flags form after a move up and preferably in an uptrend. Bear flags form after a move down. There should be an increase in volume when the flag breaks long entry level.
Bull flags appear as small rectangles often tilt downward. A flag can have a flatter base as well. A flag should be less than 3 weeks in formation (not counting the flag pole which usually forms over several days.
As a rule, tight flags without a lot of space between candles, perform better than loose flags that have a lot of space between candles.
A long pole if preferable to a short pole as targets are calculated using the pole. So a flag sitting high in a tight formation can be a good bull flag to trade.
Not a recommendation
2020 Bloopers CCL, MRO, NCLH, OXY, SABR, COTY & HTZ2020 Bloopers CCL, MRO, NCLH, OXY, SABR, COTY & HTZ
Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny a day for a month it = $5,368,709. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
www.tradingview.com
High Reward - Buy & Hold Good day traders, Carnival was one of the worst performing stocks in 2020 obviously because of the pandemic and its implications on their business. The price action recently shows signs of strength with immediate resistance around $25. There are two ways to trade Carnival; 1st way is to buy after clear breakout of the resistance at $25 and closing above it on the daily timeframe, or alternatively buy current market price or bit lower and hold for the breakout which will most likely happen sooner than later. I have outlined the buying zone and targets in the chart for ease of reference.
I expect this company along with similar nature businesses to outperform technology stocks in 2021 as the world open up.
If you have any questions, please feel free to comment and hit like if you like this idea.
Good luck!
Cup and HandleThat last number should read 35.5
Intra-year cup and handle pattern..keeping mind this stock has fallen a long way so there will be a lot of resistance overhead. Yearly high is 51.94.
Mid cup is 18.70. Folks usually place a stop somewhere below the HL or MC.
When a stock has fallen this far, it can be a downright battle to get back up to former levels. There are still folks possible "stuck" overhead and holding this at much higher levels who are just waiting to unload this, which may affect rallies upward for a while to come. It is not easy to get off the bottom sometimes..)o:
This is why some folks only buy over all resistance at the top. I have thought about this, and eventually everything comes down, or pulls back. So then resistance is created. Finding the top can be just as hard as finding the bottom..lol. All we can do is make an educated guess.
A chart is just an xray of supply and demand.
Not a recommendation
THE WEEK AHEAD: FDX, LEN, MU, CCL EARNINGS; XOP/XLE, IWM/RUTEARNINGS ANNOUNCEMENT-RELATED VOLATILITY CONTRACTION PLAYS (IN ORDER OF ANNOUNCEMENT):
Here are the options-liquid underlyings announcing next week that I've culled down to 30-day >50% as candidates for volatility contraction plays:
LEN (21/49/11.6%),* announcing Wednesday after market close
MU (24/52/12.2%), announcing Wednesday (no time specified)
FDX (29/53/11.9%), announcing Thursday after market close
CCL (27/91/21.1%), announcing Friday (no time specified)
Pictured here is a January 15th 17.5/27.5 short strangle in CCL which announces Friday, paying 1.36 as of Friday close with delta/theta of -4.86/4.84 with break evens wide of 2 times the expected move on the call side, and between the 1 and 2 x on the put. Although no time is currently specified, it is likely to announce before market open (because who, like, announces after Friday close?), so would look to put on a play in the waning hours of Thursday's session if you want to take advantage of Friday's post-announcement volatility contraction.
EXCHANGE-TRADED FUNDS RANKED BY BANG FOR YOUR BUCK:
XOP (21/60/16.3%)**
GDXJ (15/44/12.9%)
XLE (30/45/12.5%)
KRE 924/41/11.1%)
SLV (25/40/11.2%)
GDX (16/38/10.7%)
EWZ (15/39/10.6%)
XBI (24/38/10.0%)
BROAD MARKET EXCHANGE-TRADED FUNDS:
IWM (25/30/7.8%)
QQQ (23/30/7.6%)
DIA (16/23/6.0%)
SPY (16/23/5.6%)
EFA (20/24/5.1%)
TREASURY/BOND FUNDS:
Adding a little bond/treasury section to here since I occasionally park what would otherwise be idle cash in short puts (See Post Below).
TLT (11/15/3.99%) (1.609% yield)
HYG (11/11/2.41%) (4.917% yield)
EMB (5/9/--)*** (4.024% yield)
AGG (29/8/--)*** (2.252% yield)
* -- The first metric is the implied volatility rank or percentile (i.e., where 30-day implied is relative to where it's been over the last 52 weeks); the second, 30-day implied volatility; and the third, what the January 15th at-the-money short straddle is paying as a function of stock price.
** -- Here, I'm using the short straddle price nearest 45 days until expiry to calculate the "bang for your buck" percentage, which would be the January 29th weekly.
*** -- EMB and AGG don't have weeklies nearest 45 days.
