In terms of chart technology, the situation in the Nel ASA share could tip. The history: After the share price of the Norwegian hydrogen group had reached a new all-time high at EUR 2.475 at the end of November, the following consolidation initially fell to EUR 2.024 on December 4th. Since then, Nels share price has been able to recover, but there has been no further test of the all-time high. Instead, the stock has struggled for the past few days at the € 2.39 / € 2.40 mark, where four of the last eight daily highs cluster. Nel shares were unable to make the leap over these days.
The overriding upward trend in the hydrogen share is still clearly intact, which is why the sluggish price development of the last few days does not have to be a negative sign – it could be. The potential problem is still a possible top formation in the zone between 2.39 / 2.40 euros and 2.475 euros, the all-time high. The potential to take profits with Nels shares has arisen in the last few months, the share price has since been able to almost quadruple the corona crash low of EUR 0.628 from March this year.