After the recent bearish false signal for Ballard Power shares, the Canadian fuel cell group’s share price has stabilized. From $ 13.82, volatile paper rose to $ 15.90 reached on Tuesday. However, the title stopped the recovery movement well before the first relevant chart technical resistance marks. Yesterday should have been disappointing for the bulls. Ballard’s share price did not have any upward momentum, the trading range of 14.82 / 15.30 dollars was quite narrow and the closing price in NASDAQ trading at 15.16 dollars (+0.93 percent) was also not a big hit.
After all, the Ballard Power share was able to prevent another slide under the various technical chart supports, which range at and below 14.58 / 14.64 dollars, in the last two trading days. Daily lows at $ 14.65 and $ 14.82 show that the paper has been able to stabilize above the zone. But without additional procyclical buy signals, it will be a matter of time before the problems start all over again.
In the case of Ballard Power shares, the range between 13.84 / 14.20 dollars and 14.58 / 14.64 is still to be seen as an important technical support level. On the other hand, the first obstacles are between $ 15.92 / 16.00 and $ 16.35 / 16.55. They were not seriously endangered either on Tuesday and certainly not on Wednesday yesterday. All in all, it remains the same: Only buy signals on these brands could then bring a clear trend reversal fantasy into the short-term chart image of the Ballard Power share.
Important technical data on the Ballard Power share:
Last share price: $ 15.16 (Stock Exchange: NASDAQ – USA)
Bollinger Bands 20 (below / above): $ 12.80 / $ 21.79
EMA 20: $ 17.29
EMA 50: $ 15.19
EMA 200: $ 10.93
More about cleantech stocks on 4investors: click here
At a glance – chart and news: Ballard Power