Norweigan Cruise Line Holdings Stock Needs To Bounce At Support — Or Things Could Get Ugly

Norweigan Cruise Line Holdings LTD. NCLH shares were trading lower Thursday after the company revealed new designs for its ship suite and stateroom.

The company released designs and decor elements for the Veranda Staterooms, Penthouse Suites, Oceania Suites, and Vista Suites aboard its newest ship Vista, which is due to debut in early 2023.

Norweigan Cruise Line Holdings Daily Chart Analysis

• Shares have been trading in an upward channel since early 2020 and are now nearing support.
• The stock is trading below both the 50-day moving average (green), and the 200-day moving average (blue), indicating recent sentiment in the stock has been bearish.
• Each of these moving averages may act as an area of resistance in the future.

Key Norweigan Cruise Line Holdings Levels To Watch

• Norweigan Cruise Line Holdings has traded in an upward channel since March of 2020, the stock now nears trendline support and could see a bounce soon.
• If the stock falls and breaks below the trendline it may see a large downward push.
• The Relative Strength Index (RSI) has been falling and entered the oversold area. The RSI sits at 24, meaning there are many more sellers than there are buyers.

What’s Next For Norweigan Cruise Line Holdings?

Bullish traders would like to see the stock bounce at support and start heading higher. Bulls want the stock to hold above the higher low trendline and stay within the channel. Bulls would also like to see the stock cross above the moving averages for sentiment to become more bullish.

Bearish traders would like to see the stock fall below the channel. If the stock can cross below the higher low trendline, it may be ready to see further bearish moves. Bears want to see the stock stay below the moving averages.