Norwegian Cruise Line Holdings Ltd. (NCLH) stock is good value, as reported by the financial analysis website Simply Wall St., based on its ratio of Price-To-sales which is 1x compared to the estimated Fair ratio of Price-To-sales which is 2x and compared to the average of the US Hospitality industry which is 1.5x.
At press time, Norwegian Cruise stock price was $16.93 with an intraday minor loss of -3.64% trading below the major EMAs, showing that bears are in control over the charts. Moreover, the intraday trading volume of NCLH is 7.846 Million less than the 10-day aggregate volume of 13.26 Million.
The price action shows that Norwegian Cruise Line Holdings Ltd. ( NYSE: NCLH) stock price took support from a low of $12 on March 24th and made higher highs and lows and made continuous breaks of structure till $22.73 and the upward rally gave almost 86% by August 18th.
Thereafter, the NCLH stock price faced rejection at a high of $44 and the price declined and reached 23.60% Fibonacci level around the price of $20 but failed to sustain and the price declined further by giving a breakdown from the trendline and trying to sustain 61.80% Fibonacci level at around $16.
However, the stock broke the previous swing low at around 38.20% Fibonacci level and we noticed a change of character in the market structure of NCLH stock.
Therefore, if Norwegian Cruise fails to maintain its current level, the NCLH price could continue to drag downwards and hit the nearest support levels around $14 and $12.
Alternatively, if the stock price sustains the current level and Norwegian Cruise’s price increases, then it might reach the nearest resistance levels of $18 and $21.
Technical Analysis of NCLH Stock Price in 1-D Timeframe
At the time of publishing, Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is trading below the 20, and 50 EMA which is rejecting the price and hints at weakness over the daily time frame. As per the investor’s negative sentiments, if more selling volume adds up in the NCLH stock then the price might conquer support levels and we may observe a continuation streak of multiple break of structures.
RSI indicates bearishness for NCLH price, the current value of RSI is 36.30 points. The 14 SMA is below the median line at 36.59, it’s noticed that the RSI and 14 SMA are in bearish territory.
MACD indicates a tiny bearish crossover for the NCLH price, the MACD line at 0.7744 and signal line at 0.7145 are below the zero line and both lines have crossed each other which expresses bearish hints for the Norwegian Cruise stock price.
Summary
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) stock prices are bearish on the 1-D time frame. The price action for NCLH price predicts a bearish outlook at the time of publishing. The technical analysis tools of Norwegian Cruise stock price also support bearish hints. The EMA, RSI, and MACD highlight downward hints in the NCLH share price. The traders and investors also indicate negative and bearish sentiments.
Technical Levels
- Support levels: The nearest support levels for NCLH price are $14 and $12.
- Resistance levels: The nearest resistance levels for the NCLH price are $18 and $21.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/08/25/nclh-stock-forecast-can-nyse-nclh-fall-continue-or-over-soon/