An ascending triangle has formed in the chart of Norwegian Cruise Line (NYSE:NCLH). If the stock breaks through its resistance line, a breakout is expected to occur. Read more to learn how to take advantage of this trade.Norwegian Cruise Line (NCLH) is the world's third- largest cruise company by berths, operating 28 ships across three brands (Norwegian, Oceania, and Regent Seven Seas), offering both freestyle and luxury cruising. The company is growing capacity faster than its peers, expanding its brand globally.
The company has been benefiting from strong demand and growth in booking volume. Its overall cumulative bookings for 2022 are ahead of 2019 levels. However, the impact of the COVID-19 pandemic on its business results is uncertain as the Delta variant remains a concern.
NCLH’s balance sheet looks good with $2.8 billion in cash as of the most recent quarter compared with only $361 million in short-term debt. While sales are down 99.5% year over the past year, they are expected to rise 3,232% year over year in the current quarter.