Norsk Hydro ASA Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Norsk Hydro ASA stock price up 0.299% on Thursday
(Updated on May 16, 2024)
The Norsk Hydro ASA stock price gained 0.299% on the last trading day (Thursday, 16th May 2024), rising from kr66.96 to kr67.16. During the last trading day the stock fluctuated 1.86% from a day low at kr66.52 to a day high of kr67.76. The price has risen in 5 of the last 10 days but is still down by -2.53% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 629 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately kr252.80 million.
Given the current short-term trend, the stock is expected to rise 29.80% during the next 3 months and, with a 90% probability hold a price between kr87.17 and kr102.18 at the end of this 3-month period.
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NHY.OL Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Norsk Hydro ASA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr67.48 and kr67.55. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -6.95%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Norsk Hydro ASA stock
On the downside, the stock finds support just below today's level from accumulated volume at kr62.74 and kr58.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Norsk Hydro ASA finds support just below today's level at kr62.74. If this is broken, then the next support from accumulated volume will be at kr58.00 and kr54.54.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved kr1.24 (1.86%) between high and low. For the last week, the stock has had daily average volatility of 2.31%.
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 Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Norsk Hydro ASA to open at kr67.15, and during the day (based on 14 day Average True Range), to move between kr65.23 and kr69.09, which gives a possible trading interval of +/-kr1.93 (+/-2.88%) up or down from last closing price. If Norsk Hydro ASA takes out the full calculated possible swing range there will be an estimated 5.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr67.80 (0.95%) than the support at kr62.74 (6.58%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Norsk Hydro ASA stock A Buy?
The Norsk Hydro ASA stock holds several negative signals and despite the positive trend, we believe Norsk Hydro ASA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.064 Sell Candidate Unchanged
Predicted Opening Price for Norsk Hydro ASA of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| kr67.15 ( 0.0199%) | kr67.16 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 68.39 | 1.83 % | |
| R2 | 67.91 | 1.12 % | ||
| R1 | 67.62 | 0.685 % | ||
| Current price: | 67.16 | |||
| Support | S1 | 66.67 | -0.725 % | |
| S2 | 66.38 | -1.16 % | ||
| S3 | 65.91 | -1.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 72.18 | 7.47 % | |
| R2 | 67.82 | 0.98 % | ||
| R1 | 67.80 | 0.95 % | ||
| Current price | 67.16 | |||
| Support | S1 | 62.74 | -6.58% | |
| S2 | 58.00 | -13.64% | ||
| S3 | 54.54 | -18.79% |
NHY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 08, 2024 | May 08, 2024 | May 21, 2024 | kr2.50 | 3.71% |
| 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% |
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