Plug Power, Inc.Long
plug
Plug Power Inc. (PLUG) appears to be nearing the end of its bearish trend, based on the principles of the Wyckoff method. Over the past three weeks, I have observed a significant increase in trading volumes, which could indicate a classic accumulation phase.
Key Levels and Targets:
Key Resistance: $2.65 – A breakout above this level, confirmed with strong volumes, would signal the completion of accumulation and the beginning of a markup phase.
First Price Target: $5.00 – This represents a significant upside potential in line with the anticipated upward momentum.
Supporting Factors:
Volume Activity: Recent weeks show increasing volumes, suggesting strong buyer interest.
Wyckoff Structure: The current price action aligns with the final stages of the accumulation phase and anticipates a possible breakout.
Traders and investors should monitor the $2.65 level closely for confirmation of this scenario. A successful breakout could open the path toward the $5.00 target in the coming sessions.
Key Levels and Targets:
Key Resistance: $2.65 – A breakout above this level, confirmed with strong volumes, would signal the completion of accumulation and the beginning of a markup phase.
First Price Target: $5.00 – This represents a significant upside potential in line with the anticipated upward momentum.
Supporting Factors:
Volume Activity: Recent weeks show increasing volumes, suggesting strong buyer interest.
Wyckoff Structure: The current price action aligns with the final stages of the accumulation phase and anticipates a possible breakout.
Traders and investors should monitor the $2.65 level closely for confirmation of this scenario. A successful breakout could open the path toward the $5.00 target in the coming sessions.
omossa
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.