Norwegian Cruise Line (NCLH.US) stock surges 7% after Goldman Sachs (GS.US) upgraded its stance to ‘buy’ from ‘neutral’. The Wall Street firm said Norwegian business structure and balance sheet put the company in a strong position relative to other major cruise players. In the opinion of the bank, Norwegian is best positioned to benefit from the industry’s restart, when it arrives.
Norwegian Cruise Line (NCLH.US) stock yesterday bounced off the major support at $25.64 which coincides with lower limit of the triangle formation and lower limit of the descending channel. Today stock managed to break above the 200 SMA (red line) and upper limit of the channel and is currently testing 50 SMA (green line). Should a break higher occur, then upward move may be extended towards resistance at $32.51. On the other hand, if sellers will manage to regain control, the nearest support lies at $27.88. Source: xStation5
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