June 29

Carnival Corp: #PowerStocks Series Pick Of The Week (July 2024)

Are you watching the Euro?

The soccer tournament is happening in Germany, where the top European national teams play against one another to become the next Europe champion once every 4 years.

Midway through the tournament, Nike released its earnings. Due to its poor showing and less favorable outlook, its shares got dumped, leading to a slump of 20% in its share price.

I hope that you didn’t get caught in this dump.

The 1st half of the year is nearly over. Shall we review the performance of #PowerStocks picks shared in June?

  1. Cognex: No entry
  2. Morgan Stanley: No entry
  3. Ventas: No entry
  4. General Motors: Gain of ~2%
  5. Taiwan Semiconductor Manufacturing: Gain of ~1%

#PowerStocks Series Results June 2024

If you’d followed the #PowerStocks picks shared in June, you’d be up by 1.7%.

There’s a chance of this figure growing as the opportunity to buy the shares of General Motors and Taiwan Semiconductor Manufacturing only emerged a few days ago.

Are you curious about how I’ve uncovered these explosive stocks that consistently outperform the overall stock market?

I share the framework in my masterclass, The Art of Explosive Profits. Join hundreds of students and enjoy profiting from the market repeatedly, safely, of course!

Before sharing this week’s #PowerStocks pick, let’s review last week’s stock pick: Taiwan Semiconductor Manufacturing (TSM).

Review Of Last Week’s Pick Of The Week

Taiwan Semiconductor Manufacturing (TSM) was last week’s stock pick.

After becoming more explosive in its upmoves, we identified a possible swing trading opportunity.

Its share price had gone slightly below its support area of around $171.50 before taking off as planned!

Did you buy its shares for a swing trade?

I’m glad you did!

Shall we analyze this week’s swing trading opportunity together – Carnival Corp (CCL)?

Why Is Swing Trading Carnival Corp (CCL) Worth It?

Carnival Corporation logo

Source: carnivalcorp.com

Carnival Corp is a global cruise ship operator and one of the world’s largest.

Its returns have been eye-catching lately.

While the S&P 500 has risen by 9.2% from late Apr 24, the share price of Carnival Crop had risen by a staggering 30.7%!

Furthermore, its share price tends to burst up in price in a short amount of time, benefitting swing traders.

And a pullback could be near, allowing you to join the party.

What’s the price area I’m watching for an entry?

Continue reading to get the details.

P.S. What if I told you that you could drastically gain control over your emotions of fear and greed, and master the stock market in a short amount of time?

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Performance Of US Stock Market vs Carnival Corp (CCL)

Comparison of S&P 500 and Carnival Corporation

From the chart above, can you tell that the shares of Carnival Corp and the S&P 500 are in a beautiful uptrend?

Identifying the trend is your 1st step to success.

Because the share price of Carnival Corp is in an uptrend, you’ll want to look for buying opportunities.

There’s 1 more observation.

Can you tell that the shares of Carnival Corp have been outperforming the S&P 500 recently?

While the S&P 500 has risen by 4.3%, Carnival Corp’s shares have risen by 13.8%!

That’s a mouth-watering 3x outperformance!

Are you excited by this swing trading candidate?

How Explosive Is Carnival Corp (CCL)?

Carnival Corporation Explosive Up Moves

Given the strong performance of Carnival Corp’s shares, it’s time to discover whether buying its shares is worth your time. You’ll want to find out the explosivity of its share price.

I’ve marked out its explosive upmoves.

In just the past 11 months, Carnival Corp’s shares have experienced 17 explosive upmoves, with the largest measuring 33%!

Enjoying a market capitalization of more than $23b, the magnitude of its upmoves is exceptional.

Here lies the million-dollar question: Should you buy its shares for a swing trade now?

Let’s arrive at an answer in the next section.

Key Price Levels

Carnival Corp Key Price Levels

The answer is hidden in its chart.

It will be helpful to uncover its key price levels (aka support and resistance).

Did you identify these support and resistance areas – ~$17 and ~$18.80?

Carnival Corp’s share price has reached a critical key price level and could reverse in the coming days. This suggests that buying its shares for a swing trade now is likely not wise.

What’s a better and safer price area to buy its shares?

You’ll want to wait for its share price to reverse to around $17 and bounce before buying its shares for a swing trade.

Here’s a tip: You’ll want to set a price alert on your broker’s platform to be notified so that you can spend precious time with your loved ones.

Finally, this is for educational purposes. Please perform your due diligence.

All images are taken from pexels.com, pixabay.com, sectorspdrs.com, tradingview.com, and unsplash.com, unless otherwise mentioned.

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Many new traders are often left confused by conflicting signs and signals.

Worse still, ~80% of traders lose money.

This is because trading isn’t just about skill alone.

It includes the mastery of your emotions.

But what if I told you that you could quickly gain control over your emotions of fear and greed and master the stock market?

My team and I have worked tirelessly to help you achieve results fast.

Click on the banner below to claim your stock course for free (limited time) now!

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