Nel ASA: Bad news from the industry makes the stock wobble

The sluggish numbers of ITM Power are also putting the shares of the Norwegian hydrogen company Nel ASA under massive pressure today. The share is currently losing 5.52 percent on the Oslo Stock Exchange to 13.19 Norwegian kroner. The previous daily low for the hydrogen share is 13.055 Norwegian kroner.

In terms of charts, the Nel ASA share (WKN: A0B733, ISIN: NO0010081235, Chart ) is still „lucky in disguise”: A support zone at the 13 mark, which was able to stop the downward movement of the Nel share last week, also holds today – at least up until now – withstood the pressure. A sell signal at this point could open up massive downside potential for the hydrogen share up to a test of the annual lows in 2022.

The hydrogen company’s share price could fall further towards 10.50/10.75 Norwegian kroner on such a bearish chart signal. Intermediate supports along the way can be found around 12 NOK and at 11.52/11.61 NOK and around 11.10/11.20 NOK.

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