CVC1 trade ideas
CCL - Cup and Handle play - $35 targetCup and Handle play.
Break out point - 25
Break out target - 35
If the price break above $25, the target projection price is $35
Break below 18.22 is bad.
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Breakout long in CCLCarnival Cruise Lines, along with the other major cruise carriers, fell sharply during the COVID selloff for obvious reasons.
CCL has been consolidating for almost a year to create a new price acceptance zone.
But the stock is now breaking out on high volume.
Look for a continuation higher on sustained volume as it enters price discovery mode toward higher prices.
CCL LongCCL @ 24.60 48 shares
Stop is set to 21.75.
Target is 27.35.
I will move my stop and double down at 27.35 and pyramid into my trade adding 48 more shares with the same stop target at 29.99 or higher I will sell part of my trade.
Trend following trade. I want to practice holding long and being patient.
Target exit is 2 months.
Cup and HandleThe handle low has dipped below Mid cup..some would say that invalidated this pattern..price seems to have recovered and is moving back up..so just an FYI
Rough year for CCL. High before the flu is 72.70. I would imagine it would take a long, long time to get back up there and patience would be required. As long as parties that be keep parts of the economy closed, and as long as the media continues to scare folks to death over possibly getting sick and even dying, I would imagine this one will have trouble. Also, there are possibly folks stuck overhead who are in financial pain.
Trade at your own risk..I do think one day we may be able to go on cruises again, and possibly without a mask (o: (I wonder if space ship travel requires a mask?)
Not a recommendation
Home Sapiens are 100% mortal..sux rox but has always been that way and always will be that way. Enjoy life while you can (o:
$CCL game plan$CCL Cup and Handle on weekly candle chart: Just a heads up. I know the market is red right now but note that CCL is near a cup and handle resistance. Many cruises suspended until March. Could take a catalyst like an overall deep Green Day, positive Covid news, stimulus package, etc to push it above. I would prob wait for a pull back towards $21 or a breakout from ~$24.72 above the current price in my chart. I’m likely securing some profit around $31 and $37
It is written - CCL to $31+Draw whatever targets you prefer. Cup & Handle, Bull Flag,Inverse H&S, you name it. Excited on this one, entered in 21s.
All else aside, people want to cruise. Combine business fundamentals with technicals (including CCL $8B+ in cash as of 9/30/20) this could be a home run.
