Carnival's (CCL) Guidance Key for Momentum

There will be no surprises when Carnival reports today, as they've already guided the quarter down on EPS, lowering estimates to $0.19 a share.

The good news for shareholders and investors is the share price of the company has plummeted 20 percent since the early part of March, and any positive surprise could push the stock up.

Now the company is showing some strength as it moves toward its quarterly report, and it could be poised for a move it that strength is reported as sustainable.

The obvious question is the effect from increasing gas prices on the industry, which was hit hard when gas prices approached similar levels a couple of years ago, although they may have to move up another 30 cents a gallon or move before consumers start to pull back on spending.

But the world events have people jittery again, and a lot will depend upon guidance from Carnival as to the upside, if there is any more to be had.

Carnival closed Monday at $41.01, gaining $1.38, or 3.48 percent.