15 JULY 2012Tradingcharts.com
Noranda Aluminum downgraded from Out perform to Neutral
Edited by : AL CIRCLE
2 min read
Noranda Aluminum was downgraded from Outperform to Neutral at Credit Suisse today. The stock closed yesterday at $6.70 on volume of 1.3 million shares, above average daily volume of 555,000. 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.
Noranda Aluminum (NYSE:NOR) has potential upside of 101.8% based on a current price of $6.69 and analysts' consensus price target of $13.50. Noranda Aluminum shares should first meet resistance at the 50-day moving average (MA) of $7.99 and find additional resistance at the 200-day MA of $9.22.
In the past 52 weeks, shares of Noranda Aluminum have traded between a low of $6.29 and a high of $15.09 and closed yesterday at $6.69, which is 6% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 2.8%.
SmarTrend recommended that its subscribers protect gains by selling shares of Noranda Aluminum on March 8th, 2012 by issuing a Downtrend alert when the shares were trading at $10.98. Since that call, shares of Noranda Aluminum have fallen 39.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Noranda Aluminum (NYSE:NOR) has potential upside of 101.8% based on a current price of $6.69 and analysts' consensus price target of $13.50. Noranda Aluminum shares should first meet resistance at the 50-day moving average (MA) of $7.99 and find additional resistance at the 200-day MA of $9.22.
In the past 52 weeks, shares of Noranda Aluminum have traded between a low of $6.29 and a high of $15.09 and closed yesterday at $6.69, which is 6% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 2.8%.
SmarTrend recommended that its subscribers protect gains by selling shares of Noranda Aluminum on March 8th, 2012 by issuing a Downtrend alert when the shares were trading at $10.98. Since that call, shares of Noranda Aluminum have fallen 39.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
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