Ballard Power share: Big comeback beckons – chart analysis

The Ballard Power share is currently showing a clear price recovery. After yesterday’s fuel cell title with strong profit taking on a closing price basis on the US stock exchange NASDAQ declined by more than 17 percent to $ 12.03, current indications are noticeably above the $ 13 mark again. The day before yesterday, the Ballard Power share had reached a new multi-year high in the industry rally at $ 14.64. However, the breakout above the previous $ 14.20 mark, which was reached shortly before the Corona crash in mid-February 2020, did not prove to be stable.

While a strong chart-technical obstacle has formed in zone 14.20 / 14.64, the current price movement does not come out of the blue. A look at the Ballard Power stock chart showed a stronger support zone in the region between $ 11.75 / 11.94 and $ 12.10 / 12.13. The Ballard Power share was able to stabilize in this after it dropped back to $ 11.99 yesterday intraday.

The positive current reaction strengthens the technical support for the fuel cell share at this point. A slide below could target support at $ 10.64 / $ 11.11. If the positive reaction that is currently emerging remains, the rebreak over chart-technical hurdles between $ 12.59 / 12.64 and $ 12.75 would be a buy signal. It remains to be seen whether the Canadian company’s share price can also establish above $ 13.03.

Important technical chart data for Ballard Power shares:

Last share price: $ 7.18 (Stock Exchange: NASDAQ – USA)
Bollinger Bands 20 (below / above): $ 4,384 / $ 7,980
EMA 20: $ 6.183
EMA 50: $ 6.184
EMA 200:$ 8,878

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