Norsk Hydro ASA Forecast and Stock Analysis
Technical NHYDY stock analysis for February 15, 2019.
Norsk Hydro ASA fell by -0.37% in the last day from $4.02 to $4.01 The price has fallen in 8 of the last 10 days and is down by -14.06% for this period. Volume has increased in the last day by 42 591 shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 42 591 shares bought and sold for approximately $170 577.00.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the NHYDY stock was $4.01. This is 0.37% less than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 1.26% from a day low at $3.97 to a day high of $4.02.
30 day high of the NHYDY stock price was $4.89 and low was $3.90.
90 day high was $5.02 and low was $3.90.
52 week high for the Norsk Hydro ASA - $7.59 and low - $3.90.
Norsk Hydro ASA lies in the lower of a wide and falling trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $3.91 will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -11.21% during the next 3 months and, with 90% probability hold a price between $3.47 and $4.12 at the end of this period.
A buy signal was issued from a pivot bottom point on Tuesday February 12, 2019, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Norsk Hydro ASA holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 $4.02 and $4.50. A break-up above any of these levels will issue buy signals. Norsk Hydro ASA gained volume on the last day, but on falling prices. In technical terms this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-off's".
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 26 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
Norsk Hydro ASA finds support from accumulated volume at $3.94.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.05 between high and low, or 1.26%. For the last week, the stock has had a daily average volatility of 1.27%.
Norsk Hydro ASA is oversold on RSI14 (26). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
Norsk Hydro ASA holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.