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Nel ASA share: high tension in the morning – share price pushes for the breakout – chart analysis

Strong start to trading in Nel ASA shares: the hydrogen share is currently trading at the day’s high of EUR 2.093 on the Frankfurt Stock Exchange – an increase of 3.51 percent on the previous day. With the price increase, the share price of the Norwegian company attacks the previous top zone at 2,079 / 2,109 euros. An important prerequisite for this price development was that the Nel ASA share was able to maintain the technical support for the chart between the previous all-time high of EUR 1,950 / 1,952 and above all the support zone at EUR 1.88 / 1.91 in the last two trading days. It was important that there was no sweeping pro-cyclical sell signal for the Nel ASA share – we had already discussed the importance of yesterday in the 4investors chart check for the Nel share.

So now the – logically logical – attempt to get to the not far away top, which we had already predicted yesterday in the event of a lack of buy signals: “In the bullish case, a new test of the new top zone at EUR 2.079 / 2.109 would then be possible for Nels share price”, it said in the chart check. The resistance zone here, which is formed from the last three daily highs of the Nel share, should not be underestimated. In addition, the upper Bollinger band is still lagging behind the course. Although this is increasing, it is currently only trading at EUR 2.066. This could slow down Nel’s share price in the very short term, but beyond the day the movement of the band releases further price potential – if the range at EUR 2.079 / 2.109 can be overcome by Nel’s share price.

If this does not succeed, the events of the last few days could repeat themselves: In such a scenario, the supports from EUR 1,950 / 1,952 to EUR 1.93 to EUR 1.88 / 1.91 would very quickly be the target for the hydrogen Share. If these brands are also fallen below, there could be a setback in the direction of 1.69 / 1.72 euros and 1.60 / 1.64 euros. Strong support would also be expected around EUR 1,485 / 1,539.

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