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Ballard Power share: A big concern – chart analysis

A steep upward movement has shaped the chart technical picture of Ballard Power shares for days. While the Canadian fuel cell share was still trading at $ 8.87 in mid-May, the stock reached $ 14.64 on June 10, the previous post-Corona crash. The subsequent consolidation at Ballard’s share price caused a slide on the following day to reach $ 11.99, but the roller coaster ride then continued with rising prices – the steep chart-technical upward trend thus remained intact.

In yesterday’s trading on the US technology exchange Nasdaq, the Ballard Power share reached the top zone again with a daily high of $ 14.58. But what happened afterwards could become a major cause for concern from a technical point of view. Ballard’s share price was quickly dropped back to $ 13.86 and did not make any significant progress towards the day’s high as the trade continued. At $ 14.21, it finally went close to this mark from the trade – an increase of 2.38 percent.

A look at the Ballard Power share chart now shows a strong hurdle zone between the striking top at $ 14.20 on February 19 and the two recent highs at $ 14.58 / 14.64. If this mark is not overcome in the short term, the pent-up potential of profit-taking could discharge after the steep upward movement of recent times. The time has not yet come, there are still opportunities for improvement. But a slide below yesterday’s low of $ 13.86 and then and $ 13.35 / 13.65 could provide the necessary trigger …

Important technical chart data for Ballard Power shares:

Last share price: $ 14.21 (Stock Exchange: Nasdaq – USA)
Bollinger Bands 20 (below / above): $ 8.68 / $ 14.62
EMA 20: $ 11.65
EMA 50: $ 10.86
EMA 200: $ 8.55

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