Although yesterday’s NASDAQ trading for Ballard Power shares brought weaker prices, nothing has changed in the latest chart buying signal for the fuel cell share from Canada. After trading between $ 15.05 and $ 15.74, Ballard’s stock closed yesterday at $ 15.40 and a small daily drop. The title is currently on the US pre-exchange at $ 15.60. The breakout reached on Monday above the strong and important hurdle at $ 14.20 / 14.64 was never even in danger yesterday.
This means that the latest bullish chart signal for the Ballard Power share remains as active as the steep upward trend that has been shaping events for the fuel cell share for several weeks now. Interestingly, the overarching bull movement in Ballard Powers shares was not in question even in the Corona crash – at no time were the striking, relevant local lows in the overarching chart image below the previous one. Instead, the 200-day line cushioned the downward movement and sent Ballard’s share price back up. Interesting technical fact about the chart: Meanwhile, the paper is quoting again as far above the EMA 200 as it was immediately before the pandemic crash of the overall market.
So it remains: The rising upper Bollinger band at currently $ 15.66 could be the mark on which possible further price gains for Ballard Power shares are based. It will be difficult if the resistance zone at $ 14.20 / 14.64, which has just been overcome, is steadily undershot again – such a development could trigger profit-taking after the strong upward movement in recent weeks since the corona low at $ 6.95. At $ 12.87 / 13.27, the first potential chart support for the fuel cell stock would be available.