Carnival stock price featured amid cautious reboot
the Carnival share price will be the center of attention in London today after the company made its first trip from the United States since the start of the pandemic. The stock closed last Friday at 1,667 pence, about 12% below the June 10 high point.
What happened. Carnival, the world’s largest cruise line, made its first trip from the United States over the weekend. The Carnival Vista sail departed Galveston on Saturday while Horizon began its voyage on Sunday. Galveston’s maiden voyage will visit ports like Roatan, Mahogany Bay and Cozumel. All passengers were required to present proof of vaccination.
The new cruise began at a time when the demand for such recreational activities is increasing. For example, the company claims that the volume of future cruises has jumped by more than 45%. At the same time, ship customers are spending more money on casinos, massages, and luxury dining.
Yet the biggest challenge for Carnival and other cruise lines is that the Delta variant of the virus is spreading rapidly around the world. In addition, there is a major risk since vaccinated clients can still contract the virus.
Carnival’s share price recently declined to double digits after management hinted at a $ 500 million capital raise.
Carnival Share Price Prediction
The daily chart shows that the CCL share price has fallen significantly over the past few weeks. This saw it move to 25- and 50-day Exponential Moving Averages (EMAs). It also reverted to the rectangular configuration which has support and resistance at 1480p and 1850p.
Therefore, it is likely that the stock will climb to the resistance level at 1,850p as investors forecast faster income growth as the sector recovers. On the flip side, a major Covid-related incident will see shares drop to support at 1,480p.
CCL stock chart
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