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NCLH stock price is down 2.72% in intraday on Wednesday and closed at $13.58. - 2
NCLH stock price fell below 50-day and 200-day EMA; indicating weakness. - 3
Norwegian Cruise Line Holdings Ltd. stock price is nearing a positive trendline support that might try to halt the further decline.
NCLH stock price is on a three-day losing streak after the breakdown of a short-term consolidation. The stock price struggled to sustain near the EMAs but failed. The breakdown below the consolidation triggered a sharp selling and dragged the price down by over 12% in the last week.
The price trend analysis elaborates that the stock price formed an ascending triangle pattern in recent quarters. The price took multiple support from a positive trendline. Moreover, the last quarterly results initiated a heavy buying near the trendline support and the stock price made a strong upward trajectory without any major pullback.
The stock price gained from a low of $12.5 to a high of $22.5, thus, gaining over 60%. However, the current quarter has been sellers-dominated and the price has been losing since it slipped below the 50-day EMA. The stock has declined to its previous trendline from where it might get buyers’ support.
Moreover, the earning days are near, which might bring volatility in the stock price. The NCLH company is expected to deliver an estimated revenue of $2.53 Billion and earnings are expected to be $0.691 Billion.
NCLH Stock Price Analysis Over Weekly Chart
The weekly chart illustrates that the NCLH stock price broke above the 50-day EMA but suffered rejection near the 200-day EMA. Recently, the price has slipped below the 50-day EMA indicating the bears’ dominance and the price might show more declines if it continues with the momentum.
Technical Indicators Signal Bearish Outlook
The overall technical opinion rating including RSI and MACD is signaling a 72% “sell” with the strongest short-term outlook on maintaining the current direction.
The analysts offering a 1-year price forecast for the Norwegian Cruise Line Holdings have a maximum estimate of $25 with an upside potential of 84.09%. The analysts have a minimum estimate of $14.50 with an upside potential of 6.7%.
Conclusion
The NCLH stock price has been falling after breaking a short-term consolidation and slipping below the 50-day EMA. The price has lost over 12% in the last week and is approaching a positive trendline support.
The price had risen over 60% from $12.5 to $22.5 in the previous quarters, forming an ascending triangle pattern. The upcoming earnings report might bring volatility in the price. The analysts have a maximum estimate of $25 and a minimum estimate of $14.5 for the next year, with an upside potential of 84.09% and 6.7%, respectively.
Technical Levels
- Support levels: $12.43 and $11.01
- Resistance levels: $17.43 and $18.58
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/10/21/nclh-stock-price-on-a-3-day-losing-streak-can-it-recover/