Carnival Corporation (CCL) is a cruise vacation company with three cruise segments consisting of North America cruise brands, Europe, Australia & Asian and Cruise Support. The stock is currently trading around $49.60 at the upper end of its 52 week range of $33.11-$50.65. The stock has been outperforming the market this year rallying 9.55% year to date. CCL is scheduled to report earnings before the opening bell tomorrow, and the stock is has gained a little momentum about $0.66 or 1.35% on the session ahead of the close.

Over the past 12 quarters CCL has rallied on earnings day 5 times with an average move of 4.63%. The stock appears bullish on a chart going into the release having traded above the Ichimoku Cloud for the past month on the daily bars. Over the past 12 quarters CCL has rallied from earnings to the nearest options expiration 5 times with an average move of 6.41%. The stock looks as if it could continue its trend and rip to the upside further in today’s session. Investors are excited to see favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. With the most up-to-date information possible this is a pretty good indicator of some favorable trends underneath the surface for CCL earnings.

The options market is currently implying a move of around $2.78 or 5.6% in CCL by this Friday’s close giving us targets of $46.82 and $52.38.

Andrew Keene

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