NEL stock pulling back sharply after Nikola crash - but no panic
As 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.
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.
