Carnival Traders Are Voting With Their Feet

A fundamental analyst at a major sell side firm cut their price target on cruise line operator Carnival Corp to $7 and made a bearish case for the stock going to $0 (zero). The On-Balance-Volume (OBV) line has been in a decline for the past 12 months telling us that sellers of CCL have been more aggressive than buyers. The weekly OBV line is bearish and so is the MACD oscillator.