ITM Power: Retail Buying Frenzy Fails to Halt 20% Slide as Key Technical Support Looms
Veröffentlicht: 13.06.2026 um 12:54 Uhr, Redaktion boerse-global.de
Private investors have been piling into ITM Power shares with remarkable enthusiasm, yet the hydrogen stock continues to shed value at a punishing pace. On Interactive Investor, the stock ranked among the ten most-traded names on Tuesday morning, with 63% of all transactions classified as buy orders. That wave of retail demand proved powerless to stop the rot: the equity lost nearly 12% over the past week alone, bringing its one-month decline to more than 20%.
The selling pressure is purely market-driven. ITM Power has issued no material updates since announcing a strategic partnership with Protium on 3 June, leaving traders to grapple with a vacuum of fresh catalysts. The lack of company news makes the retail buying spree all the more striking — and its ineffectiveness even starker.
The longer-term picture, however, tells a very different story. Since January, the stock has more than doubled, rising 105% from its low of €0.65. But the retreat from the May peak is sharp: the current price sits 42% below that year-to-date high. Even after the rout, the annualised 30-day volatility remains extreme at 96%, guaranteeing further wild swings.
Should investors sell immediately? Or is it worth buying ITM Power?
Analysts remain deeply divided. Goldman Sachs maintains a sell recommendation, lifting its price target only modestly to 63 pence. The broader consensus is far more bullish: twelve analysts rate the stock a buy, with an average target of 119 pence. That split mirrors the stock’s erratic trajectory this year.
Technically, the chart has turned precarious. The share closed Friday at around €1.48–€1.49, slipping decisively below the 50-day moving average now at €1.64. That line now forms the first resistance level. Beneath it, the 100-day average at €1.19 provides the nearest support, while the 200-day line at €1.01 underpins the longer-term uptrend. The RSI indicator has cooled but does not yet flash oversold — leaving room for further downside before a technical rebound becomes likely.
On the operational front, attention is fixed on the Cromarty project in Scotland, the anchor of the Protium alliance. The planned facility boasts a 15-megawatt capacity, capable of producing seven tonnes of green hydrogen daily. A final investment decision is scheduled for December 2026, giving management roughly two and a half years to demonstrate progress. More immediate positive signals came in February, when the company raised its fiscal 2026 revenue guidance to a range of ÂŁ40 million to ÂŁ43 million.
For now, the stock is caught between a retail-driven bid and a technical breakdown. Whether the €1.19 support holds will determine if the broader uptrend survives the current correction, or if the buying frenzy proves to be no more than a footnote in a deeper sell?off.
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