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BUZZ-Carnival: playing a falling oil price

** Carnival (LSE: CCL.L - news) continues solid recent run, up 0.8 pct to highs not seen since March 2011.

** Lighter fuel hedging means earning's more sensitive to falling oil price than airlines.

** Stock off lows but has underperformed close peers Royal Caribbean and Norwegian Cruise Holdings. Chart: http://link.reuters.com/saz43w

** Stock has been held back by Concordia disaster in 2012 and Triumph fire in 2013, but co is beginning to deal with reputational issues and risks from Ebola receding, says Berenberg analyst Stuart Gordon.

** Carnival a laggard in travel and leisure sector since start of October when oil fall accelerated, surprising and presenting opportunity, he adds.

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** Technical indicators also turning positive, with stock showing signs of breaking out of multi-year range-bound trading. Chart: http://link.reuters.com/taz43w

** 14-day RSI overbought at 71, traders say may be more attractive short-term entry points still to come. (RM (LSE: RM.L - news) : alasdair.pal.thomsonreuters.com@reuters.net)