The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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Norwegian (NCLH) Technical Analysis

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Summary:
Weekly :
Daily :Stochastic signal line moved below overbought area20 Day Moving Average has crossed above the 50 Day Moving Average
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It was the negative week for the Norwegian (NCLH). During the week, the NCLH dropped -0.59 points, or -2.95%, and closed at 19.40 on Friday, March 15, 2024. Weekly volume was -29% below average.

Long-term trend: [See NCLH long-term trend chart]
A long-term uptrend had started on June 16, 2022 at 10.31 and reached 22.75 on July 12, 2023. NCLH gained -12.44 points, or -120.66%, in 55 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 13.41 and resistance is at 27.06. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See NCLH medium-term trend chart]
A medium-term downtrend had started on July 12, 2023 at 22.75 and reached 12.71 on November 9, 2023. NCLH lost 10.04 points, or 44.13%, in 17 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 16.69 and resistance is at 20.53. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a medium-term trend.

Weekly Technical Indicators: [See NCLH weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since February 23, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See NCLH short-term trend chart]
A short-term uptrend had started on February 20, 2024 at 15.86 and reached 20.47 on March 7, 2024. NCLH gained -4.61 points, or -29.07%, in 16 days. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 16.18 and resistance is at 22.57. Use the following link to access a Broadening Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See NCLH daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since February 26, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.13
Williams' Percentage Range (W%R) 26.50
Lane's Stochastic (%D-Slow) 45.93
Greed/Fear Indicator (GFI) 64.53
Moving Average Converg./Diverg. (MACD) 0.58
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.48
Williams' Percentage Range (W%R) 23.50
Lane's Stochastic (%D-Slow) 45.79
Greed/Fear Indicator (GFI) 56.75
Moving Average Converg./Diverg. (MACD) 0.34
Trading Signals
Description Value Chart
Weekly Trendline Resistance 22.57
Upper Bollinger Band 21.95
Quarterly Trendline Resistance 20.53
Daily Stochastic Crossing 19.57
Price 19.40
Parabolic System 19.10
20 Day Moving Average 18.51
Weekly Stochastic Crossing 18.43
50 Day Moving Average 17.80
Quarterly Trendline Support 16.69
Weekly Trendline Support 16.18
Lower Bollinger Band 15.69
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Hotels, Resorts & Cruise Lines 64
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 20.47
High Date 03/07/2024
Low 18.95
Low Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Valid
Resistance 22.57
Support 16.18
Low 15.86
Low Date 02/20/2024
High 20.47
High Date 03/07/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 12.71
Low Date 11/09/2023
High 21.26
High Date 12/22/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Valid
Resistance 20.53
Support 16.69
High 22.75
High Date 07/12/2023
Low 12.71
Low Date 11/09/2023
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 27.06
Support 13.41
Low 10.31
Low Date 06/16/2022
High 22.75
High Date 07/12/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.