NEL ASA Shares Surge 8.25% on Hydrogen Sector Rally
On October 6, 2025, NEL ASA shares surged to 2.440 NOK, up 8.25%, on high trading activity with nearly 11.9 million pieces changing hands. This rise follows recent positive developments in the hydrogen sector.
The boost in NEL ASA shares may be attributed to a renewed sector rally, similar to previous weeks, driven by Plug Power. Additionally, positive news from Australia's 'Hydrogen Headstart' program, RWE's electrolyzer reservation, and Nel ASA's contract with Ovako have stimulated the hydrogen sector recently.
Technical factors, such as stop-loss triggers or short covering, may also have contributed to the increased trading volume. However, analysts caution that without new major orders or operational news, the momentum may not be sustained.
NEL ASA shares face resistance around 2.65 NOK and could face a new setback if support at 2.2 and 2 NOK cannot be maintained. Today's gains were not directly linked to official corporate announcements, leaving the future trajectory of NEL ASA shares uncertain.
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