Norsk Hydro A S Ads is down a bit on the day, funds flowing out kept the price down -1.74% since yesterday. It looks like NHYDY may be interacting with a slightly angled support line. This area could represent a pivot point that it moves up from. In addition to being near an angled support line NHYDY is near a moderate strength horizontal support line. This represents a potential pivot point where the price might find support and move upward. But it can also break through
this line in which case there might be a burst of selling on the other side. NHYDY hasn't had very clear momentum over the last 3 months in either direction. Which makes it a little harder to predict. But hasn't shown the selling pressure to make
me feel certain it will break through the line.
If the price bounces off of the support and moves up it'll probably head up to the $11.23 level, at which point it may hit some selling pressure. If it punches through this support level, it can easily push down to $7.41 where it may meet further support, hopefully it can consolidate around that point.
