Norwegian Cruise Line Holdings ( NCLH) gapped to the downside on Friday as traders and investors reacted to the spread of the Omicron variant. Let's check out the charts and indicators before leaving port. 
In this daily bar chart of NCLH, below, we can see that prices have been bouncing off the $22 level the past 12 months until this past Friday when they gapped below $22 to close at a new low for the move down. Prices are trading below the declining 50-day and the bearish 200-day moving average lines.
The On-Balance-Volume (OBV) has been in a decline since early June and the Moving Average Convergence Divergence (MACD) oscillator has fallen below the zero line for a new sell signal.
In this weekly Japanese candlestick chart of NCLH, below, we see a bearish picture. Prices are trading in a downtrend below the declining 40-week moving average line. The weekly OBV line is pointed down as traders are more aggressive sellers. The MACD oscillator has moved below the zero line for a new sell signal.
In this daily Point and Figure chart of NCLH, below, we can see the downtrend with the price voids (gap) filled in. Here the software suggests a downside price target of $18.
In this weekly Point and Figure of NCLH, below, we can see a downside price target in the $10 area.
Bottom line strategy: Back on November 5 the charts were positive looking and we recommended that "Even if you are not into cruising you may want to go long NCLH around current levels risking to $24." Traders should have been stopped out on the first downside gap earlier in November. Charts can and do go from bullish to bearish so our advice now is to avoid the long side of NCLH.
