A first attempt at chart recovery for Ballard Power shares failed. But after the recent correction in the fuel cell stock, strong support zones remain nearby that could bring a turnaround. A whole bunch of brands have to be taken into account here, starting with the zone around the 50-day line at $ 15.27 through the lower Bollinger band at currently $ 14.49 to a technical support zone that is between $ 13.97 / 14.20 and $ 14.58 / 14.64 ranges. This is complemented by additional support for Ballard’s share price in a zone around the $ 13 mark.
There are thick planks that the bears would have to drill for new sell signals on Ballard Power stock – and that after the extensive consolidation move from $ 21.61 to Friday reached $ 14.72. From here, Ballard Power’s share price rebounded, but fell back to $ 16.48 after rising to Monday. The good news for the bulls: With the exception of the slightly below the 50-day line, none of the support brands has been at risk. Yesterday, the Ballard Power share ended trading on the NASDAQ at $ 15.03, while the stock is currently trading at $ 15.29. A jump above the Monday high at the latest could bring new dynamics to the value if the support continues. If they don’t, it will go to $ 13.