Keep an eye on Carnival (CCL).
The stock has been battered by the coronavirus story. However, it’s down too far, too fast, and could soon recover, even though it could see an EPS loss of 55 to 65 cents a share if operations in Asia are suspended through April 2020.
“While that has not come to pass and may be averted, the cruise line said there will be a material impact on the business due to suspended cruises in Chinese ports, cancellations in other parts of Asia, and the impact on bookings, which the company said is determined by the length of time that an event influences travel,” reported MarketWatch.
Still, it appears a good chunk of negativity has been priced into the now oversold stock. Technically, it’s oversold at its lower Bollinger Band (2,20), with oversold reads on RSI, MACD, and Williams’ %R, as well. We’d like to see a near-term gap refill around $50.
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