WHAT ABOUT A NICE SHORT TRADE ON CCL STOCK?

Carnival corporation has been in a huge rally but lately we can see some signs of fatigue that we cannot ignore.

TECHNICALLY OBSEEVATIONS
1.CCL stock seems to respect well the 1,618 Fibonacci extension as you can see it moves at those levels after every pulback.(I didn't do it for every pull back to keep the chart clean but you can try it,it works almost for every swing)
2.We can see also bearish divergence in MACD strategy and price levels.
3.We have also RSI bearish divergence.
4.We can see also that the hidden bullish divergence we had at STOCHASTICS now is not existing as price and stochastics made both higher highs.That's a sign bulls are losing strength.
5.We can also notice that the top trend line of the ascending channel coincides with the 1,618 Fibonacci extension of the last pull back.

POSSIBLE TRADE
BUY STOP AT 67.70$
ENTRY PRICE WITH PENDING ORDER AT 66$
FIRST TARGET T1 AT 63.50$
SECOND TARGET T2 AT 60$

THANK YOU FOR SUPPORT!
HAPPY TRADING GUYS!

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تعليق:

Price as expected nice behaviour.

تعليق:

Nice selling pressure today...

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Profit zone....

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تعليق:

CORRECTION COMPLETED AND UPTREND IS ON!