The Dynamics Behind Carnival''s Q2 Earnings Rally When an issue is in an extended downtrend and rallies off an earnings report, the next task is to determine if the rally will continue. That is what shareholders of Carnival Corp (NYSE: CC ) were confronted with in Monday’s session. Tim Quast , the founder of Market Structure Edge, joined Benzinga''s "PreMarket Prep" on Monday to give his thoughts on the cruise stock, making it the PreMarket Prep Stock Of The Day. Carnival''s Rough Few Months: On April 5, the cruise line reached $21.50 and backed off to end the session at $20.22, and the retreat was just beginning. By June 16, the issue had been more than cut in half when it bottomed at $8.70 and ended the session just above that low at $8.75. That marked the lowest level for the issue since it bottomed in April 2020 at $7.80. It followed the broad market higher and ended last Thursday’s session —ahead of its second-quarter report — at $9.65. Carnival''s Q2 Report, Business Update: Despite a substantial … Full story available on Benzinga.