Nel ASA share: turning point reached?

Technical update on Nel ASA stock: After the hydrogen stock’s recent rise to NOK 18,955, consolidation has taken place in recent days. The reason was that Neli’s share price failed to break through the 18.86 / 18.97 resistance zone near the Norwegian krone for three days in a row. The move later saw the Norwegian company’s share price fall to NOK 17.11, the lowest it had hit on Wednesday. Question: Was there a turning point today in the price movement of Nel ASA shares (WKN: A0B733, ISIN: NO0010081235, chart)? The share of hydrogen fell at the 20-day mark and rose on Wednesday. Yesterday, the exchange rate on the Oslo Stock Exchange was NOK 17.75 and trading ended at NOK 17.6 . However, the trend of the share is weaker at the moment: the price of the paper is currently 1,595 euros on Tradegate, which is equal to 17. 9 Norwegian kroner. This does not change the ability to cancel. If Neli shares break above the NOK 17.75/17.78 area, from a purely technical perspective, the path to the top around NOK 18.86/18.97 would be mostly clear. The smaller bars a little lower could be around NOK 18.26/18.37. More critical would be new sell signals that may appear in technical support services around NOK 16.80/17.10. This probably triggered another wave of profit-seeking. At the latest, below 15.65 in NOK would be strong support on the downside.

Ethan Andrews

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