Long Position on CCL @ $18.90 on 7/12/2023 (Momentum)

Carnival Corporation & plc (CCL) engages in the provision of leisure travel services. 

The company operates a fleet of more than 90 ships visit approximately 700 ports under AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, Princess Cruises, P&O Cruises (Australia), P&O Cruises (UK), and Seabourn brand names.

It also provides port destinations and other services, as well as owns and owns and operates hotels, lodges, glass-domed railcars, and motorcoaches.

The company sells its cruises primarily through travel agents, tour operators, vacation planners, and websites.

It operates in the United States, Canada, Continental Europe, the United Kingdom, Australia, New Zealand, Asia, and internationally.

Shares have formed a bullish "flag" following the company's latest quarterly report. Higher share prices are expected. On June 26th, CCL reported a 2nd Quarter May 2023 loss of $0.31 per share on revenue of $4.9 billion. The consensus estimate was a loss of $0.33 per share on revenue of $4.8 billion. Revenue grew 104.5% on a year-over-year basis.

The company said it expects third-quarter earnings of $0.70 to $0.77 per share and now expects a fiscal 2023 loss of $0.20 to $0.08 per share. The company's previous guidance was a fiscal year loss of $0.44 to $0.28 per share. The current consensus estimate is earnings of $0.76 per share for the quarter ending August 31, 2023, and a loss of $0.31 per share for the year ending November 30, 2023.

Entry Point: $18.90

Stop Loss: $18.00

Trading Range: $6.11 - $19.55

Target Price: $20.80

Position closed on 8/16/2023 at price of $18.00 with a -4.76% loss in 35 days.

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