Hot Stock: Noranda Aluminum, Shares Gain 9.6% (NOR)

Noranda Aluminum (NYSE:NOR) is one of today's best performing low-priced stocks, up 9.6% to $2.62 on 1.4x average daily volume. Noranda Aluminum has traded 503,000 shares thus far today, vs. average volume of 362,000 shares per day. The stock has outperformed the Dow (9.6% to the Dow's 0.1%) and outperformed the S&P 500 (9.6% to the S&P's -0.1%) during today's trading.

In the past 52 weeks, Noranda Aluminum share prices have been bracketed by a low of $2.21 and a high of $6.85 and are now at $2.62, 19% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 0.2%.

Noranda Aluminum (NYSE:NOR) has potential upside of 25.6% based on a current price of $2.62 and analysts' consensus price target of $3.29. Noranda Aluminum shares should first meet resistance at the 50-day moving average (MA) of $2.67 and find additional resistance at the 200-day MA of $3.30.

Noranda Aluminum Holding Corp is an integrated producer of aluminum products, as well as rolled aluminum coils. The Company produces aluminum products in the form of billets, rods and sows, used mainly for building construction, architectural and transportation applications. Noranda also produces foil and light gauge sheet products from its rolling mills.

SmarTrend is monitoring the recent change of momentum in Noranda Aluminum. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Noranda Aluminum in search of a potential trend change.