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This Cruise-Line Stock Is Sinking, Watch This Price Point

Published 06/04/2019, 02:49 PM

All of the major cruise-line stocks took a dive Tuesday. The catalyst for the decline was due to the U.S. unveiling amendments to the Cuban Assets Control Regulations, banning educational and recreational travel. Stocks such as Norwegian Cruise Line Holdings (NYSE:NCLH), Royal Caribbean Cruises (NYSE:RCL) and Carnival Corporation (NYSE:CCL) all traded in negative territory on the day.

Support Watch

Norwegian Cruise Line got hit the worst, trading lower by 4.29% to $51.97 a share. The stock is testing its important 200-day moving average. A weekly close below this key support level would likely signal more downside in the near term. The next major support level for NCLH stock is around $47. That's where the it broke out in late January 2019. It is also an important retrace level that should be defended by the institutional crowd.

Norwegian Cruise Line Holdings

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