Blue Horseshoe Stocks: Prime Setup on CCL

Adverum Biotech, Inc. ADVM

Our first order of business this morning is to review a stock we’ve been watching since the beginning of the spring, and reporting on it each month. Back on April 17th we initially alerted on the stock while it was trading for as little as 5.44 a share. We also did a followup report on it on May 20th as well as one last month, on June 5th.

The stock has essentially been in a solid uptrend the entire time, with its biggest single-session move yet occurring yesterday from 10.15 11.95 to 14.96. It marked an intraday pop of 25% and an increase of 47% over the low following our June 5th mention. The total overall increase we’ve observed since our original alert has been 175%

Carnival Corp. CCL 

We ran across the technically attractive setup on Carnival’s chart this morning, and it is currently exhibiting many of the signs we’re after when looking for solid bottom-plays.

Just in the last week, CCL started to come off of being heavily oversold, and the MACD is on the cusp of a bullish cross. Add in the nearly two million dollar pickup by an insider according to a pair of Form-4’s filed last Wednesday, as well as the massive topside gap on the chart, and we are feeling pretty good about CCL as a strong recovery play candidate.

We’re going to radar the CCL 08/02 47-48.50 Calls, which should be in good shape if the stock can approach that gap sometime in the next couple of weeks.