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Nel ASA share: the tremble begins – chart analysis

Is another chart resistance zone building up for the Nel ASA share just below the new all-time high (EUR 2.475 on November 30, 2020)? It almost seems so, because after the hydrogen share has left the consolidation from 2.475 euros to 2.024 euros, the upward movement has stalled again and again since December 9 at a zone around 2.40 euros. So today too: The previous day’s high for the Nel ASA share is listed at 2.388 euros, but the paper is currently only 2.363 euros.

In terms of charts, this does not mean a lot – viewed in isolation. But on four of the last eight trading days, including today’s Friday, daily highs fell in the range 2.388 / 2.398 euros. On the other days the zone was not in danger. While the overarching upward trend in the share price of the Norwegian hydrogen company is still intact, a potential top formation of EUR 2.398 / EUR 2.475 could be initiated.

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