Previous Hold Today NHYDY ranks #1890 as HOLD CANDIDATE. Next Hold
Today NHYDY ranks #1890 as HOLD CANDIDATE.

NHYDY stock Norsk Hydro ASA

NHYDY stock
Norsk Hydro ASA

April 18, 2019
Change 0.55%
Chart period: 2019-01-22 - 2019-04-18
VOLUME
Buy
TREND
Hold

MV LONG
Buy

MV SHORT
Buy

PIVOT
Sell

MACD
Buy

Will NHYDY stock price go up or down on Mon, 22 Apr 2019?

Norsk Hydro ASA Forecast and Stock Analysis

Technical NHYDY stock analysis for April 18, 2019.

Hold candidate since 2019-04-17 Gain 0.55%

Norsk Hydro ASA gained 0.55% in the last trading day, rising from $4.53 to $4.56 The price has risen in 7 of the last 10 days and is up by 6.05% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 71 655 more shares were traded than the day before. In total, 115 877 shares bought and sold for approximately $527 820.00.

Close price at the end of the last trading day (Thursday, 18th Apr 2019) of the NHYDY stock was $4.56. This is 0.55% more than the trading day before Wednesday, 17th Apr 2019.

During day the stock fluctuated 1.66% from a day low at $4.52 to a day high of $4.59.

30 day high of the NHYDY stock price was $4.65 and low was $3.94.
90 day high was $4.85 and low was $3.78.
52 week high for the Norsk Hydro ASA - $6.96 and low - $3.78.

Trend

Norsk Hydro ASA is the upper part of a wide and horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at $4.59 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect Norsk Hydro ASA with 90% probability to be traded between $3.76 and $4.51 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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Signals

Norsk Hydro ASA holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $4.49 and $4.19. A break down below any of these levels will issue sell signals. Norsk Hydro ASA has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Tuesday April 16, 2019, which indicates further falls until a new bottom pivot has been found.

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A buy signal from a double bottom formation was found on Thursday April 11, 2019 with a target of $4.42. Despite the objective of the signal formation has been reached the stock may continue to perform well.

Relative Strength Index (RSI)

The stock holds a RSI14 at 74 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.

Access full RSI 14 and RSI 21 lists

Support & Resistance

On the downside, the stock finds support just below today's level from accumulated volume at $4.03 and $4.00.

There is 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 $4.03. If this is broken, then the next support from accumulated volume will be at $4.00 and $3.94.

Support: $4.03 Price: $4.56 Resistance: $4.58

Risk

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 $0.08 between high and low, or 1.66%. For the last week, the stock has had a daily average volatility of 1.81%.

The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stoploss: $4.36 (-4.20%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 74 and this increases the risk substantially. There is a sell signal from pivot top found 2 days ago.)

Overall risk:

Very Low Low Medium High Very High

Previous Hold Today NHYDY ranks #1890 as HOLD CANDIDATE. Next Hold
Today NHYDY ranks #1890 as HOLD CANDIDATE.