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Nel ASA share: what a rally, but … – chart analysis

After the fluctuating last trading days for Nel ASA shares, the situation remains volatile on Friday morning. The hydrogen share only needs around 35 minutes of trading time to create a price range between 1.75 euros and 1.82 euros. Nels’ share price is currently up 1.3 percent at EUR 1.795. The bullish development of the days since May 22nd, with the violent jump to the new top at 1.952 euros on Thursday, was dampened with the subsequent slide to 1.70 euros in yesterday’s trade. After the steep upward trend, on May 22nd, the Nel ASA share was still at 1,069 euros, but this was not a very bad surprise either.

Technically noticeable with the Nel share: At 1.910 / 1.952 euros, new resistance has formed in the last few days, the core zone is the area of ​​1.950 / 1.952 euros from the last two days. So far, the consolidation has not led to any major chart-related sales signals. On the contrary: support around 1.60 / 1.62 euros and at another potential pullback target, the former top at 1.539 euros from before the Corona crash, have not been tested at all. On the one hand, this speaks for the current strength of the bulls, on the other hand, this offers potential further consolidation potential for Nels share price – especially if the overall market comes under pressure as yesterday.

Important technical data on the Nel ASA share:

Last share price: EUR 1,795 (stock exchange: XETRA – Frankfurt)
Charting trends:
In the past few days, the Nel ASA share has clearly surpassed its previous top before the Corona crisis at EUR 1,539, but has also built up chart-technical correction potential after a steep upward movement. A further fluctuating course can be expected.

Bollinger Bands 20 (below / above): 0.838 euros / 1.993 euros
EMA 20: 1.416 euros
EMA 50: 1.274 euros
EMA 200: 0.989 euros

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