Stock Of The Day: Carnival Finds Support Amid Summer Travel Hopes

Shares of Carnival Corporation & plc CCL are trading lower Friday. This is despite analyst predictions of strong summer bookings.That’s why it’s Benzinga’s Stock of the Day. It looks like the shares may find support and reverse and move higher.The chart of Carnival illustrates two important market principles.The first is that price levels that had been support can turn into resistance levels. In December the $23.30 level was support. In May it became a resistance level.Support can turn into resistance becau ...