PLUG Power volume based analysis - 3 targets before 80$ and moreThis is a volume-based analysis on Plug Power PLUG.
The stock went parabolic (again) and had an impulse wave for the 7 trading sessions and reached 73.90 as 52W highest high. PLUG stock has a lot of” buzz” at the moment and it’s just resting before another wave to 82$ at the end of it. Now the PLUG is giving some gains back and closed on 60.14, but this is far from over. So the volume shows that we have a lot more upside.
Volume:
PLUG 3 months Avg volume per session: 40.66M
PLUG volume surge -the beginning of impulse wave (1.7): 100M
PLUG volume peak -day of 52W (1.13): 142M
According to the volume, I set 3 targets:
Target 1:
stock can retreat to the 52$ line, and then converge 52.5$-60$ (Accumulation).
Target 2:
Accumulation ends, stock rallies breakthrough 61$ to the 67$ line.
Target 3:
From 67.8$ to 72.5$ there is convergence again – the area needs to be tested.
Target4:
Break 74$ (h/h) and start a new cycle.
The stock has a target price of 85$, and it can easily happen, considering these market conditions but I think the stock will start moving much slower above the 70$ line, buyers will become more hesitant and PLUG will need to “park” there for a while.
All things considered, we are very bullish on the company and even 100$+ is achievable, all a question of how long you are willing to wait 😊
Happy Weekend stay safe.
Plugpower
PLUG Long on Dips Joe Biden's energy plan focuses on R&D for clean energy, tax credits to speed ... credit for job growth in renewable-energy could give alternative energy player like PLUG a boost. Look to establish longs with drops into 51-44.5 rage. Wave Count invalidation at 37. Trade Execution in Video Update.
Plug Power Stock AnalysisTechnical Analysis: The idea is to go long, following the major Trend
Possible Support Level 47.5 USD and 50usd
Fundamental Analysis: The Idea is to go long
Plug Power announced on Thursday a partnership with the Korean-based SK Group.
Marsh said Plug Power's mission continues to be expanding the green hydrogen economy and their partnership with SK in Korea is another step forward in that mission. He said the conglomerate chose to work with Plug Power because they could "do it all," from building hydrogen fuel stations, to generating green hydrogen and even backup power facilities.
NASDAQ:PLUG
Plug Power | Plug PartyPlug Power's post-market trading, and now pre-market trading is looking excellent: 20%+ ups or higher. Yesterday, Plug Power announced a strategic partnership with the South Korean SK Group to accelerate H2 expansion in Asian Markets. This is about a $1.5 billion strategic investment!
PLUG Ascending TriangleAnalysis: PLUG never ceases to amaze me. Technically, I think this has more to go. It's set up nicely near the apex of an ascending triangle that has been forming for two weeks. Today's candle showed a hammer formation with buyers stepping up end of day to take back control. However, volume has been tapering lately which is a concern. Either side could step up and push this stock.
This has been flirting with the upper resistance level the entire triangle. I'm thinking a small pullback tomorrow to test the 8 EMA. If it breaks resistance at the $28.70 level, I want to see heavy volume lift it past resistance.
Strategy: I've been a PLUG holder for a while now. But I, personally, am going to pick up $30 calls with Friday expiry if this touches into the 8 EMA. There's a good amount of liquidity weighted to the call side. Whole numbers are the hot spot due to its psychological effect. Please note, I am not an advisor. This is my opinion. Leave a comment, though, and tell what me your thoughts!!!
Long #PLUG solar sectorTarget set for #Plug above 28.72
Im watching for a breakout off the current trend bringing us above the upper trend line.
That is where i would expect resistance until its breached.
Lower trend line under it would be expected support, with the bottom most trend line being a possibility if we fall out of trend.
Id stop out below 21.78, if you want to tighten it up, you could look at 23.37
PLUG POWER: BIG CORRECTION COMING 📉We can see higher-highs on this trend. It's clearly bullish.
I thought the market was going to use the same old patterns (green color).
Shares of Plug Power rallied Monday after the hydrogen fuel cell company reported third-quarter results. New records were set by Plug Power Inc NASDAQ:PLUG in its third quarter.
NASDAQ:PLUG is an overbought and oversold stock. This stock can be easily traced with the Relative Strength Index (RSI). That's why we can predict a big correction coming. It would be a buying opportunity!
Your comments are welcome.
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Legal disclaimer: I am not a financial advisor. The advice here given is not a financial advice even though my excitement might make it look like such. This account shouldn't be followed by anyone expecting something from me. You trade at your own risk and nobody can guarantee you results. Even if someone could, I don't.
Plug Power | Higher High?One of my go-to stocks with an excellent looking TA. Hydrogen stocks are populair at the moment among the renewable energy market. The increased interest and adoption of fuel-cells solutions, and future hydrogen stations, makes Plug Power Inc. an interesting stock to put on your radar. Moreover, it will be even more interesting when it can benefit from the Biden-Harris ‘ticket’ and their $2 trillion climate plan.
Additional Info:
• November 9, PLUG will announce Q3 2020 results (the company had some difficulties regarding achieving profitable growth, but are now in the good direction).
• Plug Power remains on track with the ‘Gigafactory’ and its $1.2B revenue plan.
• Plug Power’s largest customers like Amazon, Walmart and Kroger are benefiting from strong demand for its products.
• Plug Power vertically integrated two hydrogen companies, which grown Plug Power’s opportunities.
$PLUG Plug Power INCMonthly view
Fibs Added
This stock has been on my watchlist since $7 and I didn't get in till a bit after.
I think this really could fly. Its worth it and now under $TSLA as well, I believe they could probably spread and get large in name aswell.
Going long and I think it might hit that $80 mark if some traders come in to also play the chart up.
#TradeSafe
#InvestSmart
#PLUGPOWERINC
NASDAQ:PLUG