Swing Trade: D7G – Nel ASA

Over time, it may become obvious or not through this blog that I am very interested in the EV (specifically battery components) and hydrogen industries. This is because I do not think that any specific industry has the capability to replace oil and gas, but that it will be a combination of energy sources that are required to make society more environmentally friendly.

Moving on to this trade. Nel ASA is a hydrogen company, and possibly the biggest in Europe (don’t quote me, but they are big). Anyway I ran a swing trade on them in the middle to end of 2021 and made a good 10%. I then took that 10% and ran away, like a wolf with my tail between my legs. I have huge faith in Nel being worth a serious amount more in the future, but the future could be a while off. When I did this however I also set a couple of price alerts encase the stock price (SP) dropped again, and a few days ago one of my alerts went off.

The price dropped down within this last week, which I’m finding off because it’s not omicron related. The rest of my plays have been hit by omicron and that happened in the middle of December. Yahoo finance couldnt really help me here either, so I checked Reddit and it looks like just a downward trend, and a possible new CEO.

This had me interested, at less than 1.4 euro it is hitting all year lows within an industry I consider to have a huge future, so I bought in. It’s worth noting I plan on swing trading this again, my initial aim is 10%, which will bring it back up to 1.52 euro, but I wont immediately sell off, I think I’ll hold and see if it goes higher, then if it does I will incrementally make my sell limit higher. If it achieves 2 euro, I will sell for definite and take what I think will be almost a 45% gain. Worth also noting. If this drops lower, I may buy more to average down.

One other thing to note, is that the RSI is starting to dip quite low as well, so I consider this a potentially good sign for the moment to reverse on the stock. It’s currently in the mid 30’s and it could go lower, do not get me wrong, but it’s not in the 60’s 70’s or 80’s

Yahoo Finance link: https://uk.finance.yahoo.com/quote/D7G.F?p=D7G.F&.tsrc=fin-srch

Reddit Link: (It’s mainly german): https://www.reddit.com/r/NelASA/

Total Shares Purchased: 87
Share Price Paid: 1.388
Date of Purchase: 10th January 2022
Target Gain: 10%-40% gain
Target Stock Price: 1.52-1.99
Target Date Range: 2-3 months

Nel ASA Stock Price - Swing Trade
Nel ASA Stock Price – Swing Trade