American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Investing

Carnival stock price could go parabolic as golden cross nears

by admin December 23, 2024
December 23, 2024
Carnival stock price could go parabolic as golden cross nears

Cruise stocks had a strong performance in 2024 as demand continued soaring in key markets. Carnival stock has risen in the last four consecutive months, and is hovering at its highest level since June 2021. Its US stock was trading at $26.80, while its London shares were trading at 1,900p.

Royal Caribbean (RCL) has been the best-performing cruise stock this year. Its stock has soared by over 100%, transforming it into the industry’s biggest company.

Carnival demand is rising

Carnival stock price jumped sharply after the company published strong financial results last week.

These numbers showed that its business was doing well, helped by strong demand and higher prices. 

Its annual revenue surged to a record high of $25 billion, a strong recovery for a company that nearly went bankrupt during the Covid-19 pandemic. These numbers were about 15% higher than in the last financial year. 

The company has also become highly profitable, as it has increased its prices while maintaining low costs. Its net income for the year was $1.9 billion, much higher than its previous guidance by about $130 million. 

Other numbers showed that Carnival’s business continued to perform well. For example, it recorded an operating income of $3.6 billion and an adjusted EBITDA of over $6.1 billion.

The company mostly benefits from the ongoing revenge travel that has existed since the end of the pandemic. Most people who stayed at home and accumulated savings are spending this money on traveling. 

At the same time, many young people have embraced cruising, a leisure activity that was associated with the elderly in the past few years. 

The strong performance has helped Carnival boost its forward guidance since forward bookings have remained high. It expects that its net income for the next financial year will jump by 20% to $2.3 billion as it net yields rises by about 4.2%. 

Carnival has continued to experience robust demand for its services. Its numbers showed that the advanced bookings for 2025 have risen to a record, which has helped it to adjust its price movements higher. 

Carnival also benefits from the rising customer deposits, which have jumped to a record high of $6.8 billion. It can use these deposits to earn an additional return by just investing them in high-yielding government bonds before customers come in. 

Carnival has also continued to improve its balance sheet after loading up substantial debt during the pandemic. It repaid $3.3 billion in debt this year, bringing its total repayments in the last two days to over $7.3 billion. These payments have brought its debt load to $27 billion. With its strong cash position, the company can easily cover its $1.5 billion and $2.7 billion maturities for 2025 and 2026. 

Carnival stock price analysis

CCL stock chart by TradingView

The weekly chart shows that the CCL share price has done well in the past few months, as we predicted. It has jumped above $19.44, the upper side of the ascending triangle chart pattern, a popular bullish sign in the market. 

The stock is about to form a golden cross chart pattern when the 200-day and 50-day moving averages flip each other. This is one of the most popular chart patterns that often leads to more gains.

The stock has jumped above the 23.6% Fibonacci Retracement level. Therefore, its outlook is bullish, with the next point to watch being at $31.57, the highest level on June 2021. A break above that level will lead to more gains to the 50% retracement point at $37.40. 

On the flip side, the bullish view will become invalid if the stock moves below the upper side of the triangle at $19.45.

The post Carnival stock price could go parabolic as golden cross nears appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Spotify stock price could drop to $387 as insiders sell
next post
Hang Seng index forecast 2025: buy, sell, or hold?

Related Posts

Is Now a Good Time to Invest in...

February 15, 2024

RYLD yields 12%, IWM 1.1%: which is the...

October 20, 2024

Bitcoin price prediction for June: Will BTC rise...

June 1, 2025

Lloyds share price technical analysis: can it keep...

March 26, 2025

Best Made in USA coins to buy ahead...

March 4, 2025

DXY index forecast ahead of key central bank...

January 28, 2025

SOXL ETF stock forecast ahead of Intel, AMD...

October 18, 2024

Spotify stock price could drop to $387 as...

December 23, 2024

eBay stock price could surge to $118 despite...

January 9, 2025

USD/CHF forecast: inverse H&S pattern points to more...

January 1, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Interview: Strategic location gives Brazil Potash cost advantage in domestic fertiliser market, says CEO Matt Simpson

      June 1, 2025
    • Canada’s Q1 GDP expands by 2.2%, driven by exports spike ahead of potential US tariffs

      June 1, 2025
    • President Trump to host farewell for Elon Musk as DOGE leader steps away

      June 1, 2025
    • UK’s digital banks face divergent fortunes: Starling stumbles, Monzo and Revolut soars

      June 1, 2025
    • Trump wants Apple to shift iPhone production from India to the US: here’s what it means

      May 18, 2025

    Categories

    • Business (3,022)
    • Investing (2,459)
    • Latest News (1,994)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved