NO Randa

 

Noranda Aluminum Holding (NOR) completed a 4 months Double Bottom, but the neckline area at 3.12 is interesting. This zone has been touched twice before as support so it now should act as resistance. To make it more significant the 200 moving average is almost close by at 3.22. In this particular case and to be conservative I would let the 200MA serve as the barrier and the point of declaration that its breaking out. NOR has been on a downtrend since May 2011, will year 2014 witness the turnaround? Initial target is $4.2

nor

 

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