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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Norwegian Cruise (NYSE:NCLH) based on the price action in the company's shares. Yesterday's price range of $10.92 and $11.18 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. Traders and investors interested in shares of Norwegian Cruise may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 472.0% for shares of Norwegian Cruise based on a current price of $11.47 and an average consensus analyst price target of $65.61. Norwegian Cruise shares should first meet resistance at the 50-day moving average (MA) of $21.95 and find additional resistance at the 200-day MA of $44.92.

In the past 52 weeks, shares of Norwegian Cruise have traded between a low of $7.03 and a high of $59.78 and closed yesterday at $11.47, which is 63% above that low price. The 200-day and 50-day moving averages have moved 1.76% lower and 13.18% lower over the past week, respectively.

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.

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: bullish am inside day candle norwegian cruise

Ticker(s): NCLH