Nel ASA Shares Plunge as Technical Support Crumbles

Norwegian hydrogen specialist Nel ASA is experiencing a severe technical breakdown as its shares extend a dramatic decline. The stock’s breach below multiple critical support levels signals deepening bearish momentum across all timeframes, with the violation of the 200-day moving average confirming the deteriorating technical picture.

Market technicians are observing a cascade of bearish developments in Nel ASA’s chart pattern. The stock’s descent below the psychologically significant €0.20 threshold has triggered intensified selling pressure, culminating in a 3% decline to close at €0.198. This movement represents more than just a symbolic breach—it marks the stock’s decisive break below the closely watched 200-day moving average, a key long-term trend indicator.

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