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McPhy share: just a gap closing or prelude for more? – Chart analysis

McPhy shares got off to a strong start to the week: the French company’s share price is currently increasing by more than 7 percent on Euronext Paris and is trading at EUR 22.05. After the recent downward movement of the hydrogen share from 27.75 euros to 20.35 euros, the possibility that the paper can turn up again in the support zone at 19.55 / 20.25 euros is concretized in the chart.

This is not yet completely dry, on the contrary: McPhy shares are currently struggling to make further progress on a recently opened downward gap at 21.75 / 22.35. The previous day’s high can be seen at 22.20 euros. A jump over the technical chart resistance area at this gap would be an important bullish trading impulse for McPhys shares in the short term. Without this buy signal, however, the share price threatens to tip down again. It would be a typical gap closing, after which the stock would orient itself again in the direction of the actual direction of movement – which is currently pointing downwards for McPhy shares.

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