Nel ASA stock: Is the price crash coming?

The recovery of the Nel ASA share after the lows in August does not seem to have lasted long. On Tuesday, the share was still able to scratch the 1.50 euro mark. This was not really sensational either, but at least a good deal better than the 52-week low at 1.24 euros.

Instead of a brilliant breakout to the upside, investors now saw a downward rebound in the last two trading days. In yesterday’s trading, the share slid a further 1.9 percent. The bulls were still trying to at least hold the line at 1.40 euros.

This could be dangerous for the Nel ASA share.

Such efforts were ultimately unsuccessful.Now the Nel ASA share is on the probably last relevant support, before it could go again clearly further toward the price low. The next few days should therefore hold some thrills in store.

The next few days should therefore hold some thrills in store.

If we see further losses, it should probably initially go back towards 1.29 euros. Below that, it cannot be ruled out that the prices will go into free fall and at the same time the long-term upward trend could finally come to an end. There is now a lot at stake for the buyers.

Everything as usual

Meanwhile, away from the price movements, there is not much news to report. The Norwegian company is still working on helping hydrogen achieve a major breakthrough in mobility. However, this will probably take a little longer than investors would like.

They were not very happy with the latest figures, which had a negative impact on the share price. At the beginning of the year, an all-time high of 3.40 euros was reached. Now we can’t even dream of that.As the overall mood is still very much marked by doubts, shareholders will have to take a step back for the foreseeable future.