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Possible Bearish Inside Day Candle Pattern Detected for Norwegian Cruise (NYSE:NCLH)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Norwegian Cruise (NYSE:NCLH) based on the price action in the company's shares. Yesterday's price range of $53.88 and $54.65 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Norwegian Cruise may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Norwegian Cruise Line Holdings Ltd. operates a fleet of passenger cruise ships. The Company offers an array of cruise itineraries as well as theme cruises, while markets its services through various distribution channels including retail and travel agents, consumer direct, international sales, as well as incentive sales. Norwegian Cruise extends its services worldwide.

Norwegian Cruise (NYSE:NCLH) has potential upside of 20.3% based on a current price of $54.55 and analysts' consensus price target of $65.61. The stock should find resistance at its 200-day moving average (MA) of $55.23, as well as support at its 50-day MA of $53.07.

In the past 52 weeks, Norwegian Cruise share prices have been bracketed by a low of $49.52 and a high of $61.48 and closed yesterday at $54.55, 10% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in Norwegian Cruise. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Norwegian Cruise in search of a potential trend change.

Keywords: bearish am inside day candle norwegian cruise

Ticker(s): NCLH