Norsk Hydro (NHY.OL)

Short term

Norsk Hydro has broken the ceiling of the falling trend in the short term, which indicates a slower initial falling rate. The stock has support at kroner 52.00 and resistance at kroner 62.40. The stock is assessed as technically neutral for the short term.

Recommendation one to six weeks: Hold (Score: -8)

Medium term

Norsk Hydro has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate. The stock has broken up through resistance at kroner 55.20. This predicts a further rise. In case of negative reactions, there will now be support at kroner 55.20. The short term momentum of the stock is strongly negative, with RSI below 30. This indicates increasing pessimism among investors and further decline for Norsk Hydro. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The stock is overall assessed as technically positive for the medium long term.

Recommendation one to six months: Positive (Score: 82)

Long term

Investors have paid higher prices over time to buy Norsk Hydro and the stock is in a rising trend channel in the long term. Rising trends indicate that the company experiences positive development and that buy interest among investors is increasing. The price has reacted back after a false break of the rectangle formation. A significant penetration of 54.89 will again give new negative signals to the stock, while a break of the opposite side of the formation will be a strong positive signal. The stock has marginally broken up through resistance at kroner 56.00. An established break predicts a further rise. The stock is overall assessed as technically positive for the long term.

Recommendation one to six quarters: Positive (Score: 55)