$NCLH CruisinShort NCLH here via some puts and planning on swinging them a bit. While I don't think the whole market is going to tank if I had to choose one stock to be short of for downside and market weakness this is it. Daily close under trendline for bear flag giving me confirmation. Closed under a heavy volume at price area. Plus no volume the past 5 days granted Thanksgiving week is low volume.
Nclhshort
NCLH looks primed for some profit sellingEver since the news broke out that NCLH could support itself without income for up to 18 months, this stock has been on fire. Jumping from around 10.00 per share all the way up to 22.00 per share. I believe that this impulse has run its course and that we may see a bit of a sell off here as traders lock in profits. If you notice the yellow downward sloping resistance. This was established during the original sell off in January that started the downward spiral of NCLH. The RSI indicator is showing that NCLH is in the overbought range and due to the massive selling after the price spike in the pre-market on Friday, I anticipate that there is some more downside to be seen. I think that price may touch the downward yellow resistance as momentum dies off. Could see some support at around 20.50 and 17.50, however if those levels do not hold I would expect price to dip down to test the green downward support line at around 12.50. I think if you can enter a short position on any impulsive move up, there is some profit to be made as sellers reclaim momentum for a little while.
NCLH approaching our first resistance, ,potential drop!NCLH is approaching our first resistance at 56.59 (horizontal swing high resistance, 61.8% fibonacci extension , 76.4% fibonacci retracement ) where a strong drop might occur below this level pushing price down to our major support at 47.87 (50% fibonacci retracement ).
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price.
NCLH approaching resistance, potential drop! NCLH is approaching our first resistance at 56.59 (horizontal swing high resistance, 61.8% fibonacci extension, 76.4% fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 47.87 (50% fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price.
NCLH is appraoching resistance, potential drop!NCLH is approaching our first resistance at 56.59 (horizotnal swing high resistance, 61.8% fibonacci extension, 76.4% fiboancci retracmeent) where a strong drop might occur below this level pushing price down to our major support at 47.87 (50% fibonacci retracement).
Stochastic (55,5,3) is also appraoching resistance where we might see a corresponding drop in price.
NCLH Approaching Resistance, Potential Drop! NCLH is approaching our first resistance at 50.50 (horizontal overlap resistance, 61.8%, 78.6%, 50% Fibonacci retracement, 100% Fiboancci extension) where a strong drop might occur below this level pushing price down to our major support at 45.11 (50% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our first resistance where we might be seeing a corresponding drop in price.