Norwegian Cruise to get back above water?
When's the last time anyone has looked at cruise lines?
I remember back in 2020 cruise lines were the "value trade". It worked for a while after the pandemic drop... the price of these stocks recovered.
NCLH did a recovery back to the 50% Retracement Resistance of the drop itself... but could not quite get its head back above water. Yet another in a long list of examples of why 50% Retracements are so powerful.
The price action over the last year has setup higher lows and higher highs. This gives some confidence to a true recovery.
This morning I was alerted to the stock by an opening 30 minute price spike and false breakout of the last week's range. This sets up a good reward/risk trade with an entry at 12.51.
I remember back in 2020 cruise lines were the "value trade". It worked for a while after the pandemic drop... the price of these stocks recovered.
NCLH did a recovery back to the 50% Retracement Resistance of the drop itself... but could not quite get its head back above water. Yet another in a long list of examples of why 50% Retracements are so powerful.The price action over the last year has setup higher lows and higher highs. This gives some confidence to a true recovery.
This morning I was alerted to the stock by an opening 30 minute price spike and false breakout of the last week's range. This sets up a good reward/risk trade with an entry at 12.51.
Trade active
A small sign that the recent rally in the broader stock market is turning. NCLH has already hit and passed my initial trade target. Trimming some profits today.
"Be to others the person you needed to meet 10 years ago"
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Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
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