After entering a “Go” trend in November, $CCL saw a high late December ’23.
We saw a Go Countertrend Correction Icon (red arrow) at the high, warning us that price may struggle to go higher in the short term. Indeed, GoNoGo Trend painted a string of weaker aqua “Go” bars showing this weakness as price corrected from the high. This caused GoNoGo Oscillator to fall to and actually break below the zero line. With the “Go” trend threatened, it was no surprise then to find the indicator paint amber “Go Fish” bars. This represents market uncertainty over the future direction of price. While GoNoGo Trend is painting amber bars, price is slightly rising, and we can see that GoNoGo Oscillator is making higher lows as well as it pushes up agains the zero line. If GoNoGo Oscillator can regain positive territory, breaking above zero, then we can look for GoNoGo Trend to start painting go bars once again, and Carnival Corp to sail to new highs.
