Norsk Hydro ASA Stock Forecast
Red day on Tuesday for Norsk Hydro ASA
(Updated on Jul 02, 2024)
The Norsk Hydro ASA stock price fell by -0.778% on the last day (Tuesday, 2nd Jul 2024) from kr66.80 to kr66.28. During the last trading day the stock fluctuated 2.23% from a day low at kr65.56 to a day high of kr67.02. The price has risen in 7 of the last 10 days and is up by 4.64% over the past 2 weeks. Volume has increased on the last day by 826 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately kr223.38 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.67% during the next 3 months and, with a 90% probability hold a price between kr59.82 and kr66.53 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NHY.OL Signals & Forecast
There are mixed signals in the stock today. The Norsk Hydro ASA stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at kr67.42. On a fall, the stock will find some support from the short-term average at kr66.06. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 4.64%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Norsk Hydro ASA stock
Norsk Hydro ASA finds support from accumulated volume at kr65.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved kr1.46 between high and low, or 2.23%. For the last week, the stock has had daily average volatility of 1.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NHY.OL) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Norsk Hydro ASA to open at kr66.29, and during the day (based on 14 day Average True Range), to move between kr64.50 and kr68.06, which gives a possible trading interval of +/-kr1.78 (+/-2.68%) up or down from last closing price. If Norsk Hydro ASA takes out the full calculated possible swing range there will be an estimated 5.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr65.96 (0.48%) than the resistance at kr67.54 (1.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Norsk Hydro ASA stock A Buy?
Norsk Hydro ASA holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.095 Sell Candidate Unchanged
Predicted Opening Price for Norsk Hydro ASA of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| kr66.29 ( 0.0101%) | kr66.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NHY.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 67.75 | 2.21% |
| R2 | 67.19 | 1.37% |
| R1 | 66.84 | 0.85% |
| Price | 66.28 | |
| S1 | 65.73 | -0.83% |
| S2 | 65.38 | -1.35% |
| S3 | 64.83 | -2.19% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 70.92 | 7.00% |
| R2 | 69.48 | 4.83% |
| R1 | 67.54 | 1.90% |
| Price | 66.28 | |
| S1 | 65.96 | -0.483% |
| S2 | 65.10 | -1.78% |
| S3 | 64.82 | -2.20% |
NHY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 08, 2024 | May 08, 2024 | May 21, 2024 | kr2.50 | 3.50% |
| 2 | May 11, 2023 | May 11, 2023 | May 11, 2023 | kr5.65 | 8.29% |
| 3 | Sep 21, 2022 | Sep 21, 2022 | Sep 21, 2022 | kr1.45 | 2.39% |
| 4 | May 11, 2022 | May 11, 2022 | May 11, 2022 | kr2.00 | 2.94% |
| 5 | May 07, 2021 | May 07, 2021 | May 07, 2021 | kr1.25 | 2.27% |
FAQ
Click here for our free guide on how to buy Norsk Hydro ASA Stock.
