 This is Mike in Ormond Beach. Mike, thanks for calling. Thanks for holding. How are you doing today? Hi, Steve, I'm doing pretty good. On Friday, I sold Carnival Cruise Line short. And we got down and we took out a swing point from February 3rd with a little more volume. But today it looks like it's kinda slowing up. And I wanted your opinion if you think we can go lower with it or if you think, you know, it might be getting to a point now where it's gonna start to slow up and maybe reverse. So if we take a look at, are you a cruiser by any chance? You take, do you take cruises? Well, a while ago I did. I took some Carnival Cruises. I'm on the East Coast of Florida. We left Port Canaveral and went down a NASDAW. I did some snorkeling and had a great time. Well, excellent. I don't, maybe they're gonna start selling seats for cheap. Maybe you wanna get in on that. But anyway, you're asking about, hey, how cheap can this stock get? So let's go take a look at that. And so just looking at the charts here, today's move below that February 3rd swing point is with less relative strength, less relative weakness out here. And so it's not a reason to, it's not a reason to exit your position. But if you were to see a bullish reversal candle form, let's say tomorrow, you would want to jettison that position. And in fact, you would consider going in the other direction. You would consider taking the long. If you were to get that pattern, we don't have that pattern just yet. Now the reason why I say that and why you should be taking a look at that is the next level of support or the next breakout area is at 41.34. So, and that's really the key. There's another red line going across my screen because I was looking at some instrument a while back and really stretch things. The real breakout level inside of Carnival Cruise Line, if we had looked at this after it created the rogment and indicator top on January 21st. And now Mike, we're looking at the potential of the exact opposite pattern occurring, who knows when, we will know when when we see a bullish reversal candle. But this is, if we were to on the 21st, we were to look at this and you were to call in and you were gonna say, Steve, where did you think that Carnival Cruise Line could get back to in this short trade? Well, that target that we would have picked out, this doesn't change, was $41.34. It got down to, well, it's trading at 41.83 right now. So it's approaching a very key level where it could turn. And if you were to see the bullish reversal signal, as I said, you would wanna consider taking the other side of the trade. We don't have that yet, but you're nearing support. So you've gotta make that decision. Now, that's the daily timeframe. Mike, let's just take a look at a weekly for Carnival Cruise Line, see what we have here. We don't have anything of significance on this move lower other than to just suggest it's retracement off that rose momentum indicator bottom at form. This was back in October of last year. So now what you and I are looking at is the potential for the same pattern to occur on a daily timeframe, hasn't yet. But so just a retracement there, a higher low at this stage of the game. If I look at a monthly timeframe chart here, let's try to populate this. What do I see? I see that at the same time on the weekly basis or around the same time that it was making that rose momentum indicator bottom, it got to wave number seven. That's letter G on my screen on a monthly basis. It looks like price is trading right into a level of support there being its monthly profile at 41.53. So we've got a breakout level. Let me call the number, Mike, on the daily timeframe chart. But here on the monthly, we've got a bullish structured profile. I don't know whether we'll hold that or not, but you're certainly coming into what should be a very strong support area. And if those support areas fail, then the good news for you would be that price that should then go target 31.44. And 31.44 is the quarterly breakout level. But I'm not suggesting to you just yet that that's where price is gonna head to. You gotta really watch that daily chart like a hawk in my opinion, because if you do see that bullish reversal candle, I wouldn't want to be short Carnival Cruise Lines. Now, and Steve, where would you have a stop? On Carnival Cruise Line. So you got a couple different, because you just entered this trade recently, the first place that I would say would be my red line value right now, which is 44.50. Any counter trend move up to the oscillator and change line because it's red would just be normal or natural. If you were to see a close above that, that number is gonna change as trading continues. But that's the approximate area that I would be looking at on a counter trend rally. Because if price got above that, it's then suggesting wants to add higher. Higher would be 47.14. That's the top of the current daily profile. Yeah, I'm not gonna let it get that high. I try to keep it tight leash on it. And I try not to let it go, things go too far beyond my buy points. So I usually use OCO orders where I can have a limit order and a stop in at the same time and one will cancel the other. Sure, sure. So for equity positions, yeah, Mike, so for equity position like CCL, I don't mind using a 30 minute chart because we can cut that up into equal increments, right? You got a six and a half hour trading day. So those of you that use intraday time frames for a six and a half hour chart, please divide six and a half hours to come up with equal increments out there. Really, so 30 minutes will do. And on a 30 minute timeframe chart, Mike, what you can see is that the oscillator and change line here has really acted as a resistance level, 41 to 87 is that number. Because you say you kind of keep things on a tight leash out here. This has a confirmed TD set up nine count. That was an hour ago. That was bar number nine when that formed. So if in fact price could close above Stevie's red line, 41, 87, it says, you know, start to really keep looking at tightening that. I'm not saying to exit necessarily, but it went on a short-term basis, said that you could see a bounce up to 42, 69. That would be the normal, that would be the normal place. So price would have to close about 42, 69 to suggest that there's a change in trend on a 30 minute timeframe. Right, okay. Well, Steve, I want to thank you again for all the tools that you taught us. And I usually keep the roads and momentum indicator on my charts and it's a valuable tool and it's helped me to make some really good trading decisions. Well, that's great. Glad to hear that. That's what we're here for. Yep, so thanks again for all the additional tools that you've added and the education you give us. It's really great. Thank you. My pleasure and thanks for those kind words. I believe we have Ron on the phone as well in Denver. And Ron wanted to also talk about Carnival Cruise Lines. So Ron, how can I help you? What else can I answer for you that we didn't cover with Mike? Well, I was looking to, and I was just wondering if it was too late to buy puts because I didn't know how, well, nobody knows, I don't think how serious this coronavirus in China, the coronavirus in China is gonna get. Yes. First time in effect, it's gonna hurt the revenues of Carnival Cruise. Yeah, so the cool thing is so far, so you're right, that's a fundamental, it's a fundamental and emotional thing that is going on. Obviously across the, well, mostly in Asia, but still, what's that impact going to be? I still don't have a tool where I can hover over a bar to know what the current event was, that was going on at that time. But look, we, price is pulling back to a key level of support. So we'll see if those buyers are going to, in fact, try to turn things to the upside, all right? Okay, thank you very much, I appreciate it. You bet, thanks for holding. That was Ron in Denver. Two for one, Carnival Cruise Lines.