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Ballard Power share: bear trap or further price losses – chart analysis

Now it counts for the Ballard Power share – the chart-technical question must be answered whether yesterday’s slide ends with important support in a bear trap or whether the harbinger of further price losses was seen here. Ballard Power’s share price dropped to $ 13.82 yesterday, but was able to recover significantly in the further course of trading. With $ 14.55 and only 2.22 percent drop from yesterday’s NASDAQ trading and in the US stock exchange, the fuel cell share is currently again just above the $ 15 mark.

A look at the Ballard Power stock chart shows a broad and important signal zone ranging from $ 14.58 / 14.64 to $ 13.97 / 14.20. Further support for Ballard’s share price is not far below in the zone around $ 13 and can be classified as a kind of “emergency stop” in the event of further price losses. With the lower Bollinger band currently at $ 14.08 and the numerous supports around yesterday’s low, however, there are some potential reasons why Ballard’s share price has come to an end after yesterday’s significant price drops from $ 21.61 to yesterday’s low Consolidation could be imminent. New sell signals mean additional downside potential for the Canadian share certificate.

If, on the other hand, there is a recovery movement, it remains that way: a jump above the Monday high of $ 16.48 at the latest could bring new dynamics to the value if the support continues. If they don’t, it will go to $ 13.

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