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Shares of Noranda Aluminum Under Pressure
Edited by : AL CIRCLE
1 min read
Noranda Aluminum (NYSE:NOR) is a company whose shares are active, trading 2.5% lower to $8.46. The S&P is trading lower by 1.2% to 1,337 and the Dow is trading 1.2% lower to 12,664.
Over the past year, Noranda Aluminum has traded in a range of $6.67 to $16.45 and is now at $8.46, 27% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 3.4%.
Potential upside of 59.6% exists for Noranda Aluminum, based on a current level of $8.46 and analysts' average consensus price target of $13.50. Noranda Aluminum shares should first meet resistance at the 200-day moving average (MA) of $9.89 and find additional resistance at the 50-day MA of $10.35.
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.
Over the past year, Noranda Aluminum has traded in a range of $6.67 to $16.45 and is now at $8.46, 27% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 3.4%.
Potential upside of 59.6% exists for Noranda Aluminum, based on a current level of $8.46 and analysts' average consensus price target of $13.50. Noranda Aluminum shares should first meet resistance at the 200-day moving average (MA) of $9.89 and find additional resistance at the 50-day MA of $10.35.
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.
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