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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 $52.91 and $53.64 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.

There is potential upside of 25.0% for shares of Norwegian Cruise based on a current price of $52.50 and an average consensus analyst price target of $65.61. The stock should find initial resistance at its 200-day moving average (MA) of $53.04 and further resistance at its 50-day MA of $56.08.

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

Over the past year, Norwegian Cruise has traded in a range of $45.64 to $59.78 and closed yesterday at $52.50, 15% above that low. The 200-day and 50-day moving averages have moved 0.15% lower and 0.15% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Norwegian Cruise and will alert subscribers who have NCLH in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle norwegian cruise

Ticker(s): NCLH