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Nel ASA share: strong start to Monday – buy signal! – Chart analysis

This is a successful start to the new week for the Nel ASA share: the hydrogen stock is currently trading at EUR 1.825 and can thus overcome the small, but recently important, technical hurdle at EUR 1.789 / EUR 1.800. In early trading on the Frankfurt Stock Exchange, the 1.825 euros are also the daily high for Nels share price. However, he cannot rest for long on the buy signal: A look at the chart of the hydrogen share shows further obstacle zones in the vicinity that have to be overcome.

After the slide from 1.979 euros to 1.49 euros and the turn at the 200-day line, the buy signal this morning, if it remains stable, is another piece of the puzzle for Nels share price on the way back towards the 2-euro mark. Between EUR 1.831 and EUR 1.851, another chart-technical hurdle zone in the vicinity complements the resistance cluster, which Nels share price now has to overcome if the most recent high of EUR 1.964 / EUR 1.979 is to be approached again. Here is then a distinctive and strong chart resistance area for the Nel ASA share. A breakout here too could bring the all-time high at 2.188 / 2.195 euros and the upstream obstacle zone between 2.09 / 2.11 euros and 2.15 euros into view.

Meanwhile, the range at 1.789 / 1.800 euros together with the previous day’s low from Monday at 1.780 euros is the first technical support for the Nel share. A slide below this could lead to a test of the previous resistance levels between 1.620 / 1.641 euros and 1.650 / 1.659 euros and at 1.672 / 1.680 euros.

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