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

By David Diaz

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 $57.68 and $57.96 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.

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.

Norwegian Cruise has overhead space with shares priced $57.90, or 11.8% below the average consensus analyst price target of $65.61. Norwegian Cruise shares have support at the 50-day moving average (MA) of $55.03 and additional support at the 200-day MA of $53.23.

In the past 52 weeks, Norwegian Cruise share prices have been bracketed by a low of $45.42 and a high of $59.71 and closed yesterday at $57.90, 27% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

SmarTrend recommended that subscribers consider buying shares of Norwegian Cruise on October 21st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $50.89. Since that recommendation, shares of Norwegian Cruise have risen 13.7%. We continue to monitor NCLH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle norwegian cruise

Ticker(s): NCLH