A first attempt by Nel ASA shares to escape the clutches of the chaos at Nikola sank in – exactly – renewed bad news from the US partner of the Norwegian hydrogen company. But in this case, Nels share price could catch up quite quickly and turn back up on the 200-day line yesterday. In today’s early trading on the Frankfurt stock market, the hydrogen share can expand yesterday’s plus and is currently quoted at 1.58 euros at the daily high – a plus of 2.9 percent.
In terms of the chart, the Nel share still has the chance to complete the previous price slump from the all-time high of EUR 2.195 to EUR 1.347. After stabilizing at 1.347 / 1.376 euros in the past few days, the final step is missing. The focus is on the area around the recovery high reached the day before yesterday at 1.618 euros, which is to be classified as a technical chart hurdle – and has a trend-setting character for Nels shares.
The last conclusion from the 4investors chart check on the Nel ASA share does not change anything decisive. For the time being, the support zone at the “Nikola Crash Low” at 1.342 / 1.376 euros, together with the 200-day line just above it at 1.447 euros, which yesterday formed the lifebuoy for Nels files, remain on the bottom side, which are crucial in terms of chart technology. Towards the top, the technical obstacles between 1.618 / 1.630 euros and 1.665 / 1.680 euros continue to stand in the way of a more extensive recovery movement and must be overcome. At 1.569 / 1.586 euros and thus at the current price level, smaller signal marks can be seen, which in the short term are only likely to have a minor significance for the trend in the Nel share. A jump over this could then herald the test of the important hurdles.