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

By Amy Schwartz

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 $15.18 and $16.25 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.

Potential upside of 300.1% exists for Norwegian Cruise, based on a current level of $16.40 and analysts' average consensus price target of $65.61. The stock should run into initial resistance at its 50-day moving average (MA) of $18.04 and subsequent resistance at its 200-day MA of $44.01.

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.

In the past 52 weeks, Norwegian Cruise share prices have been bracketed by a low of $7.03 and a high of $59.78 and closed yesterday at $16.40, 133% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.6% while the 50-day MA has declined 14.4%.

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