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!
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!
Trade active:
Entered today and will buy more in dips