The deal of more than 400 million euros between Nordex and RWE, which we reported on over the weekend, is causing Nordex’s share price to skyrocket this morning. The paper comes in an interesting position in terms of chart technology: current indications at 9.645 / 9.775 euros are not far below important chart technical hurdles, which currently shows the chart image of the TecDAX title after the recovery movement from the corona crash at 5.55 euros to 10.75 euros determine. On Friday, the wind energy share was still 8.775 euros from XETRA trading.
“The expected high proceeds from this transaction would strengthen our balance sheet as we continue to expand our strong order book and take advantage of market opportunities with our Delta 4000 product portfolio,” said José Luis Blanco, CEO of the Nordex Group, on the agreed Sale of the European Nordex wind farm portfolio to RWE. As if blown away, balance sheet concerns that arose on the stock exchange seem to be over government guarantees for Nordex was reported.
A look at the chart of the Nordex share shows important obstacles, which range between EUR 10.17 / 10.30 and EUR 10.40 / 10.44 up to the post-crash high of EUR 10.75 on June 8th extend. As the current indications show, this zone is not yet at risk. If the Nordex share shows further momentum, the chart hurdles could be subjected to a serious test.