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NCLH pushes through 20-day moving average


Technical Analysis Report for NCLH - Apr 16, 2018 [1 min read]
Highlights
NCLH pushes through key resistance level
NCLH runs into sellers around 53.80 for the third day in a row
NCLH pushes through 20-day moving average
NCLH rises to highest close since April 5th
NCLH stuck within tight trading range
TQ Sentiment
Technical Forecast:
Overview

NCLH ended Monday at 53.44 gaining $1.02 (1.95%). Today's closing price of 53.44 marks the highest close since April 5th. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.

Daily chart for NCLH
Volatility

Monday's trading range was $1.03 (1.95%), that's below last trading month's daily average range of $1.51. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 52.29 and 53.94 which it has been in now for the last three days.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. After moving lower in the previous session, Norwegian Cruise managed to close higher but below the prior day's open, forming a bullish Harami Candle.

Support/Resistance

Breaking through the key resistance level at 53.40 today, it is now likely to act as support going forward. The share ran into sellers again today around 53.80 for the third trading day in a row after having found sellers at 53.94 in the previous session and at 53.69 two days ago.

Trend

Though the market is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory. The stock managed to break above the 20-day moving average at 53.09 today for the first time since April 5th.

Order Flow

Buying might speed up should prices move above the nearby swing high at 53.94 where further buy stops could get activated. Selling might accelerate should prices move below the close-by swing low at 52.29 where further sell stops could get triggered. As prices are trading close to April's high at 54.68, upside momentum might speed up should NCLH mark new highs for the month.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Price broke through Technical Resistance R1 TQ Pro Members Only
Bullish Break through SMA 20 TQ Pro Members Only
High close to previous two Highs TQ Pro Members Only
Bullish Harami Candle TQ Pro Members Only
Close to Swing High TQ Pro Members Only
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