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Nel ASA share: does the buy-signal hold despite the Nikola turmoil? – Chart analysis

A quick look at the technical situation of the Nel ASA share, shortly before trading on the Frankfurt Stock Exchange starts today: Yesterday, the share price of the Norwegian hydrogen company expanded its price rally of the last few weeks and reached a new all-time high at 2.475 euros. The fact that the closing price of EUR 2.349 and the current indications on Tuesday morning of EUR 2.38 / EUR 2.395 are noticeably below the new all-time high is primarily due to profit taking. The trigger was the new turbulence at Nel partner Nikola yesterday, Monday, which also affected the Scandinavian share price.

The good news for the Nel ASA share: The important technical chart support zone around the core zone at 2.188 / 2.195 euros, which was overcome on Friday, has not yet been endangered by the profit-taking. The previous all-time high is at the mark, which was recently a constant topic at this point in the 4investors chart checks for the Nel share with two striking price peaks from July and September of this year. After the breakout above this, the area around EUR 2.18 / 2.20 forms a strong technical support zone for Nels share price – and at the same time a potential first pullback target if profit-taking continues.

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