Carnival Corp (CCL.US) is trading 5% higher today. Company announced that it plans to resume cruises on 42 ships by the end of October. Operations will be resumed across 8 brands. This would represent a return of more than 50% of its fleet to operations. If the company succeeds with its plans, it will put it much closer to achieving its goal set up early in the year - resuming operations of 65% of its fleet by the New Year. Back in June, Arnold Donald, CEO of Carnival, also said that it hopes to resume operations on all of its ships and across all 9 brands by spring 2022.
Taking a look at the chart of Carnival Corp (CCL.US), we can see that the stock has managed to break above the resistance zone at $24.50, which has served as the upper limit of a recent ascending triangle pattern. Textbook range of the upside breakout from this pattern points to a possibility of around 18% upward move, to the $29.60 area.
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Source: xStation5
