PLUG - +60% upside with 1:4 RRPlug set-up perfectly and beaten down for a swing trade to $3.80 for +60%.
I am expecting this to break out any time now.
The momentum is lacking and price is heavily squeezed.
Analyst ratings are still very good.
PLUG trade ideas
PLUG charging up?PLUG may have the opportunity to cycle back to the top in the channel that it is in, please view SRSI and RSI readings and MACD, please keep an eye on price action.
PLUG eyes on $ 22.25: Break to mark Bottom? or Reject to Doom?PLUG has bounced into a very important price zone.
Confluence zone of long term fib along with local fib.
Break-n-Retest to mark Bottom, or Reject to new lows.
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PLUG LongGreat price action after breaking support.
Earnings coming up so need to be cautious with this one as it'll be a coinflip.
PLUG LONG PLUG is at the perfect area for entry for long! giving us the GOLDEN ENTRY AREA!
We are about to breakout of spring in Wyckoff accumulation and re-enter the structure.
SL below 1.8$
TP1 3.2$-3.5$
TP2 4$-4.5$
*will update if any changes accrued
PLUG TUESDAY Oct21/2024 possible squeeze ? Plug Power Inc. develops hydrogen fuel cell systems aimed at replacing conventional batteries in electric vehicles and equipment .The company focuses on clean energy solutions, particularly hydrogen technology, which reduces carbon emissions. They serve industries like material handling and stationary power, helping drive the transition to more sustainable energy sources.
PLUG Plug Power Inc. develops hydrogen fuel cell systems aimed at replacing conventional batteries in electric vehicles and equipment .The company focuses on clean energy solutions, particularly hydrogen technology, which reduces carbon emissions. They serve industries like material handling and stationary power, helping drive the transition to more sustainable energy sources.
ONE FOR THE FUTURE (BUY AND HOLD)Nothing much to say about this chart except that it is an interesting chart.
The entire trend from the top is strikingly a repetition of the DJIA trend from 1966 to 1974 adjusted against inflation squeezed into a time function of 1 : 0.6
If ever battery cars will be a thing then PLUG is one of the main players position for massive growth. Buy more with cost averaging, trade safe.
Chart speaks for itselfIt vas a very nice ride!
* Market cap loosing rapidly
* Constant 25-30k selling
* Order flow negative
Few good news don`t make any changes when the fundamentals are still bad..
$PLUG POWER INC * TC FIB EWP BIMONTHLY TF ANALYSISGolden Pocket (~$1.37): The price is currently hovering around this critical Fibonacci retracement level, marking it as a significant support zone.
The price is trading within a long-term downward channel, which started after a major peak (early 2000s). The stock has followed this downward trend consistently, and despite short-lived bullish corrections, the overall trend remains bearish.
Resistance Levels within this channel are more likely to appear around $2.95 and $5.00 (both horizontal and diagonal resistances).
This zone is crucial as it coincides with the 0.618 and 0.65 Fibonacci retracement levels. If the stock fails to hold above these levels, the next significant downside could bring the price to around 85¢, where another historical support and the lower boundary of the channel come into play.
The RSI indicator at the bottom of the chart shows an RSI level of 40, which suggests that the stock is currently not in oversold territory but is approaching it. A level below 30 would typically indicate oversold conditions and could hint at a potential reversal.
The stock has had significant downward momentum over the past couple of years, but it's approaching critical long-term support levels. If the current support zone (between $1.12 and $1.37) holds, we might see a bounce toward the $2.95 resistance.
However, if the price breaks down below $1.12, the bearish momentum could accelerate, sending it toward the $0.85 level.
Short-term resistance can be seen at around $2.95 (50% Fibonacci level) and $5.00 (long-term diagonal resistance). For a more sustained recovery, the stock needs to break these levels convincingly, which could open up the possibility for a move toward $13.45 (0.5 retracement level from the macro perspective).
Buy zoneShort squeeze a definite possibility here. Fed in charge at 2pm. Falling wedge on weekly. Government loan in the works along with hydrogen becoming more talked about.
Plug Power Inc.: Potential Turnaround .Plug Power Inc. has recently exhibited several promising technical indicators suggesting potential short-term upside. Currently trading at $2.69 with a pre-market increase to $2.71, Plug Power is showing a neutral RSI (Relative Strength Index) of 51.44, indicating it is neither overbought nor oversold. This neutral position often precedes significant price movements as the market decides on the stock's direction.
Plug Power has experienced a substantial decline over the past year, down 75.63%, but recent developments have sparked optimism. The stock is currently supported at the $2.55 level, with further support around $2.26, as identified by Fibonacci and pivot point analysis. Resistance is seen at $2.73, followed by stronger resistance at $3.20 and $3.50. Breaking above these levels could lead to a test of the $4.00 mark, which aligns with the 200-day moving average.
RSI (14): 51.44 (Neutral)
MACD (12, 26): -0.10 (Buy signal)
Momentum (10): 0.33 (Buy signal)
Stochastic %K (14, 3, 3): 81.45 (Neutral)
The MACD and Momentum indicators showing buy signals suggest a potential upward move. The Awesome Oscillator is neutral at -0.27, while other oscillators like the Stochastic RSI Fast indicate a neutral stance at 94.85.
The short-term moving averages (10 and 20-day EMAs) indicate a buying opportunity, while longer-term averages still suggest a bearish trend. This divergence often points to a potential reversal, especially if short-term averages continue to rise.
Plug Power has made significant strides in the green hydrogen market, including new contracts for engineering and design packages in Europe and the U.S. Their recent partnership for a phased project featuring up to 2 GW of electrolyzer capacity enhances its growth prospects.
1-Year Price Target: $4.68 (74.13% upside)
Revenue Estimate Q3 2023: $222.16M (Previous: $198.71M)
EPS Estimate Q3 2023: -$0.33 (Previous: -$0.46)
The company has faced challenges with its EPS, consistently reporting lower than estimates, but the revenue growth indicates increasing market adoption of its hydrogen solutions.
Long Position:
Entry Point: $2.55 - $2.60 (current support levels)
Target Price: $3.20 (R1), $3.97 (R2)
Stop Loss: $2.25 (below S1)
Short Position (If support fails):
Entry Point: Below $2.50
Target Price: $1.91 (S1), $1.49 (S2)
Stop Loss: $2.75 (above P pivot)
Plug Power's current technical setup, coupled with its strategic initiatives in the hydrogen market, suggests a potential for short-term gains. With key support levels holding and buy signals from critical indicators, a speculative price target of $3.20 in the near term seems plausible. Investors should watch for a breakout above $2.73 to confirm upward momentum.
Target 28Following weekly chart.
Finally I got a bullish signal from my indicator, it's a nice time to buy before week close.
TP1 6.95
TP2 12.66
TP3 24
And Falling wedge break target 28
Also following EMA 100 which is 9.02 right now.
I will stop if the weekly close is under 2.21
Other than technical stuff, the company gets a huge loan guarantee, which supports technical insights.
Any comments on your side?
Price on important support zonePrice just landed on the 3 level. A psychological and technical support. There is no setup yet but it has bounced up very hard from that level before and now is clear in an short term uptrend. I think is going to test the 4.8 level soon.
PLUG, getting ready for multi WEEKLY GAINS!PLUG is registering massive volume accumulation this past four weeks.
Net buy volume has surged +34% from its average numbers -- where buyers are getting ready to overtake sellers in anticipation of the stock's long term future upside valuation.
On weekly histogram, higher lows has been created -- conveying the incoming price growth of the stock.
Bubble up volume (bottom indicator) consistent appearance this past 4 weeks (after 4 months of continued sell off) is cementing the stocks intention to finally shift the trend -- to the upside.
Fundamentally, the management sees a rosier future revenue-wise with upcoming innovation / products despite stiff competition.
Spotted at 10.0
TAYOR.
Safeguard capital always.
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FUNDAMENTAL NEWS : Reference TVIEW site.
Why did Plug Power stock pop today? CEO sees 2023 sales above consensus
Jun 13, 202307:37 GMT+8
Plug Power
PLUG surged to its highest in more than two months, +13.1% in Monday's trading after the company detailed plans for its investor day on Wednesday, which included above-consensus guidance for 2023 sales.
CEO Andy Marsh said visitors to its Rochester, N.Y., gigafactory will be able to "witness firsthand that we are not only selling and deploying tangible products but have also scaled up operations, supports our near-term revenue goals of $1.4 billion in 2023 and our long-term target of achieving annual sales of $20 billion by 2030."
Plug's new 2023 sales estimate is ahead of the $1.29B analyst consensus estimate and nearly double the company's 2022 revenues of slightly more than $700M.
$Plug looking to power upNASDAQ:PLUG has shown signs of bottom settling in. 4/25 closed a bullish hammer reversal at an important historical support line. I will not enter until MACD turns positive for confirmation.
Retraces below,
{} %30 backtest trendline
{} %80 (dragon breakout pattern typical target/ fib related)
{} %100 macro reverse
US Offers Conditional $1.66 Billion Loan to Plug Power Inc.The U.S. Department of Energy has announced a conditional loan guarantee of up to $1.66 billion for Plug Power Inc, ( NASDAQ:PLUG ) aimed at facilitating the construction of up to six clean hydrogen production plants. The produced hydrogen is intended for use in fuel cell-electric vehicles for material handling, transportation, and heavy industry. The initiative is expected to yield an 84% reduction in greenhouse gas emissions compared to conventional hydrogen production methods, which rely on natural gas and result in significant carbon dioxide emissions unless captured and stored underground.
The current administration sees low-carbon hydrogen as pivotal in addressing climate change, particularly in powering heavy industries such as aluminum, cement, and steel, as well as long-haul transportation. The Department of Energy's Loan Programs Office emphasized that this move is set to unlock the potential of clean hydrogen, thereby contributing to the growth of a robust, American-led industry.
Plug Power's technology, known as electrolyzer stacks, will be utilized in the clean hydrogen plants. These electrolyzer stacks are manufactured at the company’s facility in Rochester, New York. Notably, Plug Power ( NASDAQ:PLUG ) is a leading commercial-scale manufacturer of electrolyzers in the United States.
Technical Outlook
Plug Power stock ( NASDAQ:PLUG ) was up 40% on Tuesday's market trading. The stock has risen from a falling wedge pattern trading with a moderate Relative Strength Index (RSI) of 67.31 which is sparsely overbought. The stock is trading slightly above the 100-day Moving Average (MA).
Plug Power Inc.'s Bearish Trends with Precision Trading tacticsPlug Power Inc. (PLUG) is currently navigating a challenging market environment characterized by a persistent downtrend over the last several months. As of the latest trading session, the stock closed at $2.69, marking a marginal decrease from the previous session.
The stock has been forming lower highs and lower lows, which is indicative of a strong bearish trend. A descending channel can be identified with resistance and support levels that are continuously tested.
Short-term moving averages (10-day and 20-day) are positioned below longer-term moving averages (50-day and 200-day), reinforcing the bearish sentiment. The 200-day moving average at $5.47 acts as a strong resistance level.
Relative Strength Index (RSI): The 14-day RSI stands at approximately 46.90, which is neutral but leans towards the bearish spectrum, suggesting a lack of strong upward momentum.
With a reading around 60.49, the market is neither in overbought nor oversold territory, indicating a potential for further price fluctuation without clear directional bias.
MACD: The MACD line remains below the signal line, further confirming the bearish momentum in the short term.
Support and Resistance Levels (Pivot Points):
Current Pivot Point: $2.69
Resistance Levels: R1 at $3.12, R2 at $3.94
Support Levels: S1 at $1.87, S2 at $1.44
The market sentiment towards PLUG remains neutral to bearish, with analysts providing a neutral outlook. The upcoming earnings report could be a significant catalyst for the stock, potentially causing volatility in the price movement.
Short Position: Considering the prevailing bearish trend, initiating a short position at the break of support level S1 ($1.87) could be considered. Set a stop loss slightly above the current pivot level at $2.75 to mitigate risk. The first target for this short position would be around S2 ($1.44), with a potential extension towards $1.00 if the bearish momentum intensifies.
Long Position: For a more conservative approach, a long position could be considered if the price breaks above the descending channel and surpasses the R1 level at $3.12. A stop loss should be placed just below the pivot point at $2.65. The primary target for this position would be R2 at $3.94, with an optimistic extension towards the $4.50 level if the market sentiment shifts positively following earnings.
Given the bearish trend and the strength of the resistance levels, the short-term outlook suggests a potential decline towards $1.87 or lower, depending on market reactions and external economic factors.
In conclusion, PLUG currently presents a stronger case for bearish strategies due to the established downtrend and technical indicators supporting further declines. However, traders should remain vigilant and responsive to the upcoming earnings report and other market news, which could significantly influence the stock's trajectory. As always, maintaining appropriate risk management strategies is crucial in navigating such volatile environments.
There are two possible scenarios for PLUG's stock performanceStrong Support: PLUG presents a buying opportunity.
We've identified a strong support zone, ranging from $2.85 to $3, where the price has consistently been rejected, indicating robust support in this range. Additionally, there's a trending line that has proven to be a significant support point, often leading to a price surge when it's reached. Also, the RSI on the 4-hour chart is currently indicating an oversold condition
Stop Loss: 2.80.
Profit Targets ($4.8 and $6).
First Target: $4.8. Here, I suggest taking 20% of the profits.
Second Target: $6. At this level, taking another 60% of the profits is recommended.
Final Target: $12. This is the point where I recommend taking the largest portion of the profits, which is the remaining 100% of the position.
Risk Management: My strategy involves a clear plan for taking profits at various levels, aiding in risk management, and securing gains.
Personal Opinion: This reflects my opinion, and I encourage others to consider taking profits in a staggered manner, as per my suggested levels.
It's essential to understand that this is a personal viewpoint and strategy. Market conditions can shift unpredictably.
Traders should do their research and assess their risk tolerance before adopting any trading strategy.
Please be aware that this analysis represents my perspective and is not professional financial advice. I am not a financial advisor. Each individual should research thoroughly and consider all risks before making investment decisions. Markets are inherently unpredictable, so informed and cautious trading is always advisable.
PLUG Power's Echo from 2020: A Technical Analysis 📈 In 2020, PLUG Power showcased a notable pattern formation—a symmetrical triangle accompanied by a diamond bullish shape. This setup culminated in a remarkable price surge post-breakout. Fast forward to now, and we're witnessing a similar scenario unfold
Key Observations :
RSI Dynamics : The RSI is currently sculpting a falling wedge, indicating a potential breakout on the horizon.
Price Trajectory : My forecast sets the price zone target at $12. However, a more immediate and realistic target lies above the $7 zone, marking my primary focus.
Symmetrical Triangle Breakout: Anticipate a significant momentum shift once we breach the symmetrical triangle. This move is poised to be momentous, steering clear of the downward pull towards $2.68.
Gap Analysis : Historically, PLUG has demonstrated the 'all gaps must be filled' principle, with a pivotal gap closure at $3.08. Upcoming targets include gap fills at $5.86, $8, and $10.7.
Market Sentiment & Future Outlook:
The global shift towards Green Hydrogen is gaining momentum, with PLUG Power leading the charge. This presents a golden window of opportunity to 'ride the wave' before it crests.
Please note, that my insights are based on technical analysis and market observations. I am not a financial advisor. Always conduct your own research before making investment decisions.
plug is ready for $8I think plug is oversold and is steadily increasing revenues. It's current bar formation, position, and volume makes it super attractive with a low risk and high reward profile. Have an exit strategy in case things don't work out and keep your losses small.
Elliott Wave Analysis on PLUG: Potential BreakoutHello, traders and investors. Before I dive into the analysis, please note that I am not a financial advisor, and this is not financial advice.
We're observing the Elliott Wave Theory in action here, where it appears PLUG has completed the Elliott five-wave pattern. The price action suggests we're currently facing resistance at a significant Order Block. Zooming into a smaller time frame, we can see that PLUG's price rallied from $2.26 to $5.14, followed by a retracement to the $3.34 level, which is shaping up to form an ABCD pattern. If this pattern holds, we're looking at a D target in the $8 range.
The broader Elliott wave count suggests a potential B wave pushing towards the $10 zone, a pullback to the C wave at the $7 level, and a D wave potentially reaching around $18( if we are able to break the 12$-13$ level).
Turning our attention to the RSI, we've seen multiple rejections, but the momentum indicates we might break through soon. A weekly close above $5 could open the path to the $7 to $8 levels.
Regarding timing, the cyclical time frame suggests a tentative target date of around May 24th for reaching the $10 level. While cyclical predictions are not always precise, they can aid in forecasting potential time frames for price movements. Additionally, it's noteworthy that the weekly Fear & Greed Index stands at -30%, which historically could signal a period when investors start considering entry points for buying.
Remember to do your own research and consider all market risks before trading. Happy trading!
