We see tremendous potential in Europe, where the source market will generate nearly half of Carnival's profit this year and demand actually grew 6% last year
The news helped boost the FTSE in early trading.
Carnival is very nicely positioned for buyers. The stock enjoyed rapid gains throughout February - as most stocks did - but it was the action in early January which set the bullish tone. During the winter chill as stocks were heading south for warmer climes, Carnival made the bold move to new 52-week highs. The only blot came with a brief 3-day period of selling at the start of February, but this just confirmed £22 as strong support. By then global markets were working bullish reversals and Carnival was able to ride the stock buying wave up to £26.
From March through to today the stock has traded in mild bullish channel anchored by support at £26.50 (and rising) with resistance likely to kick in around £28.00 (and also rising). Today's upgrade to £32 with prices closer to support than resistance gives bulls reason for optimism. The analyst target of £32 is close to the measured move target of £31.50 - mutual confirmation for an upside target.
I have set a Trading Idea for a push to £31.49 with a stop on a break of £25.70.
Trading Strategy Updates
Yesterday was one of the busiest day for trading signals; upgrades in stops and target prices in nearly all trading strategies, some short exits and a couple of new entry signals. There was also profit target exits for HPQ, INTC and AAPL. Subscribe to any of these or the 146 available in our MarketPlace and you can have these signals delivered direct to your email address. Below is a small sample of trade triggers.
ASX Price x 20-day MA
New Long Target and Stop for COH (Sydney) at AU$74.02 (EoD): Target AU$79.36, Stop AU$71.80
Long Confirmation Entry for BXB (Sydney) at AU$7.29 (EoD)
New Long Target and Stop for CBA (Sydney) at AU$58.84 (EoD): Target AU$65.21, Stop AU$56.32
Developing a Strategy
Long Exit at Profit Target for INTC (Nasdaq) at $23.44
Long Exit at Profit Target for AAPL (Nasdaq) at $245.1
Long Entry for F (NYSE) at $12.95 (EoD)
Long Confirmation Entry for SBUX (Nasdaq) at $24.75 (EoD)
ETF Elm
New Long Target and Stop for UWM (NYSE) at $37.30 (EoD): Target $41.60, Stop $34.04
ETFs Oak
New Short Target and Stop for TWM (NYSE) at $18.23 (EoD): Target $16.87, Stop $20.61
Frankfurt High Winners
Long Confirmation Entry for SZU (Frankfurt) at €16.48
New Long Target and Stop for ADS (Frankfurt) at €41.66 (EoD): Target €46.32, Stop €40.01
Long Confirmation Entry for SAZ (Frankfurt) at €29.71
Long Confirmation Entry for PFV (Frankfurt) at €57.37
Long Confirmation Entry for SZG (Frankfurt) at €68.94
New Long Target and Stop for BOS (Frankfurt) at €23.10 (EoD): Target €25.75, Stop €23.29
Long Confirmation Entry for VOW (Frankfurt) at €72.24
Long Confirmation Entry for LIN (Frankfurt) at €88.38
New Long Target and Stop for GWK3 (Frankfurt) at €29.88 (EoD): Target €33.00, Stop €28.50
My First Subscribed Strategy
New Long Target and Stop for INTC (Nasdaq) at $23.44 (EoD): Target $26.06, Stop $20.14 on 14
New Long Target and Stop for AAPL (Nasdaq) at $243.6 (EoD): Target $270.4, Stop $208.9
Long Exit at Profit Target for HPQ (NYSE) at $54.00
Long Confirmation Entry for BA (NYSE) at $70.95
New Long Target and Stop for IP (NYSE) at $28.14 (EoD): Target $30.97, Stop $23.93
Relative Canada
Long Confirmation Entry for NAE.UN (Toronto) at $12.87 (EoD)
UK Golden Brown
UK Golden Brown Long Unacted Entry for HSD (London) at 171p (EoD): Entry signal given, but exited position on same stock too recently (4) days ago.
UK High Winners
New Long Target and Stop for JD. (London) at 787p (EoD): Target 840p, Stop 760p
Long Confirmation Entry for HSD (London) at 171p
Long Entry for AIP (London) at 350p
Long Exit at Trailing Stop for LTC (London) at 686p
US High Winners
Long Confirmation Entry for SBUX (Nasdaq) at $24.75
Long Entry for F (NYSE) at $12.95
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Dr. Declan Fallon, Senior Market Technician for Zignals.com, offers a range of stock trading strategies for global markets under the user id: ‘Fallond’, ‘ETFTrader’ and ‘Z_Strategy’ available through the latest rich internet application for finance, the Zignals MarketPortal or the Zignals Trading Strategy MarketPlace.
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