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

Very bad news for PDD Holdings stock price

June 21, 2025

USD/BRL forecast ahead of Brazil and Federal Reserve...

June 18, 2025

How Will the Inflation Reduction Act Impact the...

February 2, 2024

Gold price to sink, silver to rise, as...

September 10, 2024

Element79 Gold Corp Completes Filing of Q1 Financial...

March 1, 2024

Dogecoin price analysis: here’s why DOGE could surge...

November 23, 2024

5 Silver Stocks that Pay Dividends (Updated 2024)

May 15, 2024

3 reasons India’s Nifty 50 index may rebound...

February 27, 2025

IWM ETF: Here’s why the Russell 2000 has...

April 2, 2025

Integrated Cyber Solutions Unveils Joint Venture Partnership with...

April 3, 2024

    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

    • How Donald Trump’s immigration crackdown may tank the labor market

      August 4, 2025
    • Trump’s tariff threat looms over India’s Russian oil deals

      August 4, 2025
    • Trump moves nuclear submarines near Russia: what triggered the move and what’s ahead

      August 3, 2025
    • BOE rate cuts offer little relief as UK households face mounting financial strain

      August 3, 2025
    • Retail investors shift focus to Europe as US valuations stretch

      August 3, 2025

    Categories

    • Business (3,573)
    • Investing (2,700)
    • Latest News (2,031)
    • 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