A look at the chart of the Nel ASA share shows: It is a very important phase that the hydrogen share has to go through. After the breakout above the previous all-time high in the zone at 2.188 / 2.195 euros and the price rally on Monday reached 2.475 euros, there was a pullback to the breakout zone. This was already massively tested yesterday: After a daily low at 2.174 euros, the Nel share went out of trading at 2.255 euros above the important technical chart signal zone – a sell signal was prevented. This morning it looks better with rates between 2.20 euros and 2.25 euros at a current rate of 2.22 euros (-1.55 percent), the important pullback zone was not again fallen below.
Little changes in the technical signal marks at Nels share price, only the pullback area has to be adjusted to yesterday’s price development. If the breakout above the chart technical signal range at 2.174 / 2.195 euros remains intact, the bullish trend in the hydrogen share is unbroken. The steeply rising upper Bollinger Band, currently at 2.389 euros, was massively exceeded at the beginning of the week – another reason for the profit-taking and the pullback, in addition to the new turbulence at Nels US partner Nikola. The zone could remain a guide if the bull market continues.