Carnival Corp
CCL
Real-time BATS EXCHANGE - 09/20 07:00:14 pm
66.83USD
+0.92%

A long term support level to be taken advantage of

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Anas Lozach
Analyst

Strategy published on : 07/12/2018 | 14:18

long trade
Target price hit

Entry price : 58.31$
Target : 64$
Stop-loss : 54.9$
Potential : 9.76%

The decline over the past weeks has brought the price of Carnival Corp shares back to an important technical support level at 57.31 USD. This represents an opportunity to take advantage of these prices levels.
Investors have an opportunity to buy the stock and target the $ 64.

Summary

● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.


Strengths

● The share is getting closer to its long-term support in weekly data, at USD 57.31, which offers good timing for buyers.

● Graphically speaking, the timing seems perfect for purchasing the stock close to the USD 56.76 support.

● Margins returned by the company are among the highest on the stock exchange list. Its core activity clears big profits.

● There is high visibility into the group's activities for the coming years. Outlooks on future revenues from analysts covering the equity remain similar. Such hardly dispersed estimates support highly predictable sales for the current and upcoming fiscal years.

● Historically, the company has been releasing figures that are above expectations.

● This company will be of major interest to investors in search of a high dividend stock.

● Analysts covering this company mostly recommend stock overweighting or purchase.

● The average target price set by analysts covering the stock is above current prices and offers a tremendous appreciation potential.


Weaknesses

● The group shows a rather high level of debt in proportion to its EBITDA.

● The underlying tendency is negative on the weekly chart below the resistance at 65.18 USD

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