Cruise ship giant Carnival (CCL) hasn’t enjoyed a strong performance recently and for good reason. With global economic headwinds and rising fuel cost concerns representing key barriers, investors took the safe road out and trimmed their exposure to CCL stock. That’s fine but there’s both a fundamental and quantitative signal that suggests a turnaround could be possible in October.
According to Google Finance’s summary sheet, while Carnival delivered a solid second-quarter earnings print, escalating geopolitical crises have caused significant investor jitters. Over the trailing month, CCL stock has slipped more than 5%, contributing to a year-to-date loss of nearly 16%. Subsequently, the Barchart Technical Opinion indicator rates the ticker as a 56% Sell.
