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Nel ASA share: Now dynamics must come in the share price – chart analysis

Nel ASA shares got off to a good start on the Frankfurt stock exchange today. But there has not been any real upward momentum in the early first hour of trading. It went up to 1.81 euros. The hydrogen share is currently trading at a daily high of EUR 1.81, up 2.78 percent. But despite the lack of momentum, there are also positive chart-technical impulses for Nels share price: After a failed breakout attempt last failed at EUR 1.90, the paper managed to stabilize the zone around the 50-day line at EUR 1.736 at the moment use. The upward movement alone has not worked properly so far, resistance seems to be at 1.81 euros.

If a breakout through this brand succeeds, a new attempt at more important chart-technical hurdles would be possible. So it remains with the scenarios for the Norwegian hydrogen stocks that we have already outlined in the last few days. With further price gains in the zone, the Nel share would hit the next higher chart technical hurdles at 1.88 / 1.91 euros and around 1.934 / 1.952 euros. Additional buy signals could then pave the way towards the broad top zone, which extends around 2.11 / 2.19 euros, which could lead to more significant losses after the recent upward movement from 2.814 euros to 4.859 euros.

On the other hand, for the Nel share, the technical support zone at 1.69 / 1.72 euros, which was last tested, is the most important short-term support mark alongside the 50-day line. A slide below would be a new sell signal that could put pressure on the company’s stock price. The other chart-technical support brands for Nels shares are then around EUR 1.586 / 1.618 and above all on the strong barrier between EUR 1.465 / 1.485 and EUR 1.539.

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