NELO trade ideas
Nel Asa | Strong support, 50%+ potential upside back to ATHsOn the weekly chart, Nel Asa has tested the long term dynamic support again after a sharp 35% pullback. For now the uptrend has held, and the slight hidden bullish divergence to the RSI gives me a bit more confidence in the trend.
Targeting a pump back up to ATHs throughout the year
Good long term play.
Would love to hear your thoughts!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
Is hydrogen the future?NEL has increased its value by 250% in the last year.
The Norwegian government has set a target of reducing their greenhouse gas emissions by 90 to 95 percent.
Is it time to invest in production of hydrogen as being the renewable fuel of the future?
Nel Asa| Strong Bullish PennantNel Asa is sporting a strong Bullish Pennant on a recent consolidation range. Green energy is on a tear and I actually prefer European adoption of the technology compared to U.S.
If we see a continuation of the uptrend through tomorrow and hopefully a bullish cross of the 20MA above the 50MA, we can expect a pop above ATHs and a trend-based Fib Extension target of 4.79€, implying a 10% upside from today's close.
Although downside is significant too, with our short-term support around ~2.94€, implying a 6% downside from today's close.
Thanks and Happy Trading!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
BUYING NEL ASAthe market is full of Bulls, we gonna see a big big move in the next days to the Upside.
Entry: Now
SL 3.0000
TP1 5.000
Tp2 OPEN
NEL is about to break out (if it crosses 23.5NEL needs to push just a little bit further up to break out. So, wait for now.
If it breaks out then reaching 30 is possible quite soon.
$NEL Hydrogen crush previous ATH, $NKLA signs MOU with $GMAlso recent Bank of America BUY with price target 30 NOK
NEL is having a potential upside in the near future, but...Whie NEL is clearly going up in the short term, for the long term it is stil unclear where we are heading...
Needs to remain above 20.
Interesting levelCan go either way, but the upside is more feasible considering the current run for fuel-cell
$NEL Hydrogen testing key level 20NOK on Green New Deal hopes$NEL Hydrogen clearly will benefit from a Biden presidency! If it can establish trading above 20 NOK, the stage looks set for a strong pre christmas rally.
NEL on Oslo MarketForming Symmetrical Triangle: let see... Q3 on 5th November will be released too.
it might inevitably breach the upper trendline for a breakout and uptrend on rising or alternatively breach the lower trendline for a breakdown and downtrend with falling prices... Let's see :)
$NEL Hydrogen testing breakout from short term downtrendNEL has become a trader favourite with recent volatility after Nikola was hit by short seller report.
Hourly 20 EMA breaking above 100 EMA, often seen as a promising momentum shift indicator.
NEL needs to break above support/resistance at about 18 and consolidate to regain a bullish sentiment in the short term.
Todays top 20 list show that the Clearstream crowd are still buying NEL stock like hot cakes, reducing fear that main investors would be dissuaded by recent price movements
NEL stock pulling back sharply after Nikola crash - but no panicAs expected in previous trading idea, NEL falling under important support confirmed the double top sell signal.
But NEL is a stock that has experience several huge volatility events in the past, with earlier drops from top to bottom as large as 53 and 58 %.
Compared to those the recent drop of 36% seem to not cause any sense of panic among the shareholders at all, especially considering that Nikola short report hit at the exact same time as the large US tech selloff.
Investors should consider the volume profile and be a bit patient to see if the stock consolidates already, or that some more time is needed for the market do do its price discovery.
Significant insider by reported this week:
(Oslo, 25 September 2020) Bjørn Simonsen, VP Investor Relations & Corporate
Communication of Nel ASA ("Nel") has today through Simonsen Invest AS, a company
100% owned by Bjørn Simonsen, purchased 100,000 shares in Nel at a price of NOK
15.39 per share. After the transaction Bjørn Simonsen holds 1,616,138 shares and
616,000 options in Nel.
