Carnival Corporation (CCL) remained under mild pressure in recent intraday trading as the stock continues to search for a higher low that could serve as a foundation for rebuilding the positive momentum needed to resume its recovery. Despite the recent weakness, positive support remains in place through the stock's continued trading above its 50-day Simple Moving Average (SMA), which acts as a dynamic support level and strengthens the prospects for a near-term rebound. In addition, momentum indicators have fallen into excessively oversold territory relative to the stock's price action, further supporting the recovery scenario.

Therefore, our outlook remains bullish for the stock's upcoming trading sessions, as long as support at $27.50 holds firm. Under this scenario, the stock is expected to target the key resistance level at $31.60.

Today's price forecast: Bullish.