Carnival Stock Upgraded After Breakout; Analysts See Rising Tide For Cruise Lines
When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Carnival, which saw a welcome improvement to its Relative Strength (RS) Rating, rising to 93. It joins Norwegian Cruise Line, which also saw a rise in its RS Rating.
When you're researching the best stocks to buy and watch, be sure to pay attention to relative price strength. IBD's proprietary rating tracks price movement with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 in the early stages of their moves.
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Carnival gapped up this Monday morning, and is now out of the traditional buying range from a cup without handle. Once a stock moves 5% or higher beyond the original entry, it's considered out of a proper buying area. As of this writing it is 12% higher.
CCL Earnings
Carnival showed 0% earnings growth in the latest quarterly report. Revenue rose 173%. Look for the next report on or around Jun. 22.
Carnival holds the No. 5 rank among its peers in the Leisure-Services industry group. OneSpaWorld Holdings and Royal Caribbean Group are among the top 5 highly rated stocks within the group.
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