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Nel ASA share: It’s seething … – Chart analysis

How does the Nel ASA share start the new week? After about the first hour of trading on the Frankfurt Stock Exchange this Monday morning, no new impulses can be seen in the chart. The trading range for the hydrogen share is 1.825 / 1.840 euros in early trading, currently Nels share price is at the high of the day and thus gained 0.82 percent in value on Friday. That is not enough to overcome a technical chart hurdle that has stopped the upward surge in the share price of the Norwegian company since Thursday.

In terms of the chart, the steep recovery movement after the previous price slide from the all-time high of EUR 2.195 to EUR 1.347 is still intact. Nel ASA shares turned around between September 21st and 25th. Since then it has gone up without any major consolidation, with a peak of 1.86 euros on Friday. At 1.85 / 1.88 euros there is chart resistance for the Nel ASA share. At the moment, however, it is “seething” under this cover … If this brand breaks, further hurdles would be quickly reached. At 1.895 / 1.910 euros and 1.95 euros further intermediate hurdles would have to be overcome on the way up. The overall goal of this movement could continue to be the all-time high at 2.195 euros and the resistance zone below.

Difficulties could arise if Nel shares cannot overcome the current hurdle. A chart consolidation would not be a disaster after the recent price gains. A first technical chart support is available at 1.78 / 1.80 euros, a slide below this could trigger a consolidation. Recently overcome technical chart hurdles between 1.618 / 1.630 euros and 1.665 / 1.680 euros now serve as support levels in the event of more significant price losses.

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