Carnival Corp (CCL) might be worth looking at for swing traders

The first thing that comes into mind when looking at CCL is that it is a strong sell. However, in this post, I will present my rationale for why it might be a solid security to look at in the future. At the current moment, the stock is on a downtrend and all of the moving averages show strong sell. On the contrary, if you look at the chart there is a possibility for a positive change in the future. I cannot be certain when this change will occur as no company nor investor can be 100% certain with the Stock Market.

If you look in the graph of the CCL stock above there are implications of a cup with handle formation starting to form. In addition, the volume is heavily green as the stock is starting to move in a positive direction. For these reasons, I believe that from a purely technical chart analysis viewpoint, CCL might be worth looking at. Due to the fact that is prediction is made from a purely technical stance, I would recommend only Swing Traders to take a better look at it. If you don't know what a cup with handle pattern is, then go to the charts category and read the post about it.

Please keep in mind that this is strictly my analysis and opinion. Financial actions should not be based solely upon the opinions of this one article. Please read my disclaimer for further information.