CCL has fallen back to test to upper boundary of what I think is a Wyckoff pattern and I would expect it to move up again from this level if the bloodletting of the overall market comes to an end. Interestingly, it hasn't moved up today where as all my other stocks have. The more speculative stocks (of those I didn't sell out of when the rot set in) are the ones that have cost me the most over the past couple of weeks - so for now being not speculative is a plus I think. Technically, price has fallen below a weekly trend line (black solid line) and if it closes below $12 this week (more likely than not) it will have had 2 consecutive closes below trend - which is a sell signal. However, the stock is still in a formal uptrend and there is probably a counter-trend buy going here if price makes an up bar next week. I'm just hoping to wake up to a green US market tomorrow which might see some buyers come out of their bunkers.
CCL Price at posting:
$10.67 Sentiment: Hold Disclosure: Held
