Nel Asa| Strong Bullish Pennant

21 Oca 2021

Nel 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*)

22 Oca 2021

Not

Not sure how you add images, but I've had to slightly amend the wedge to include today's price action.
The wedge is even clearer now on the 4h Chart, go look for yourselves!