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Nel ASA: Is a doubling on the horizon? - Financial Trends

Nel ASA: Is a doubling on the horizon?

The chart condition of the Nel ASA stock is visibly improving. While a new low was still generated in February of this year, the bulls were already able to take the helm in May. A higher low was established and currently the bulls are even attacking the high of around NOK 18.00 generated in March.

Thus, pressure is slowly but surely building up towards the zone of around 18.00 in NOK. With the break of this important resistance area, there is again the possibility to manage a fulminant rise towards the 2021 high. The importance now lies in continuing to hold above the price area of around NOK 10.00.

A dip below it must be recognized as clear weakness and could continue to fuel the currently still intact overriding downtrend. However, it is positive that the important 200-day moving average of Nel has been exceeded. Moreover, the GD200 is rising for the first time since May 2021.

Now a trend analysis (D1) for the Nel ASA stock.

Macd Oscillator: At this point, the oscillator is examined to see if the signal line is above the trigger line. In addition, also whether the Macd is above zero. From a total of 10 Macd analyses, 9 are positive. That is mega bullish. Super, keep it up!

Moving averages: It is still analyzed whether the GDs are rising at the Nel ASA stock. Because rising GDs make up an uptrend. Out of a total of 10 moving averages, as many as 9 are rising. This can definitely be described as very bullish.

Parabolic SAR indicator: The last thing to check is whether the closing price is above the indicator. If yes, then a valid upward trend is given. From a total of 10 Parabolic SAR evaluations, 8 are positive. Here we can say that is bullish.