Powercell share: turnaround after a series of weak days? – Chart analysis

After the Corona crash at EUR 12.70, the Powercell share climbed to a new top at EUR 36.50, which was achieved on July 7th. It then took the fuel cell company’s share price less than three weeks to plunge back to € 22.90. The low of the detailed countermovement to the “Post Corona Rally” was reached on Friday. However, both at the end of the week and in today’s trading, Powercell’s share price can clearly set itself apart from the daily low: The weekend started at € 25.00 and the share certificate is currently quoted at € 26.18 a full 10 cents above the previous day’s high and significantly above that recorded so far Daily low at 23.86 euros.

And so the candlestick chart of the Powercell share for Friday and today catches the eye of two long matches of the respective day candle. There is a growing chance that the Swedish group’s share price has seen its low countermovement to the rally. Around the core area at EUR 26.48 / EUR 26.74 there is still a technical resistance zone that has to be overcome and is currently in the spotlight. Further buy signals on this brand could cause the Powercell share to climb in the direction of 28.28 / 28.94 euros. The 50-day line is currently just below that. If the breakout is unsuccessful, there is a risk of further price setbacks in the direction of Friday’s low or the 200-day line at currently EUR 21.18.


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