Carnival Corp (CCL) came up on the Triple Bottom Breakdown scan. After failing to hold its May breakout (blue arrow), the stock broke support with a sharp decline in June. You can probably see some other patterns at work here as well. Think Fibonacci, wedge and broken support.
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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