PLUG trade ideas
Plug Earnings Showing Inverted H&S with neckline and conformation at 31.93.. last 2 trading days have been volatile but plug has held its trendline (white line) . Im thinking this pattern might just need some fundamental news for the breakout like a great earnings. I have my alert set
PLUG - 4h Chart - Longterm BuyOverview
PLUG is one of my favorite Stocks already since 2 years. While i dont really care about fundamentals, it is to mention that the German Government will put 8 trillion Euros into the field of hydrogen and as PLUG is one of the big players in that particular field - its worth to mention. Specially since the last time similiar news came out (in November 2020) PLUG started its big run.
I look at 3 points where i will buy equally many stocks. The plan is to take out my initial investment at the target area and let the rest run.
Dont forget:
- Watch your Risk management
- DYOR (Do-Your-Own-Research)
Please consider:
This information / article is only for educational purporses and not a recommendation to buy or sell.
I'm not a Financial Advisor.
Thanks for reading!
trader_se
PLUG - BREAKS OR NOT?Yo!
not much to say here.. the possible outcomes you can see on the charts
Dont forget that the stochastics shows overbought!
Goodluck,
t347.
NASDAQ:PLUG
Its a buy for meBroke out of falling wedge.
RSI finding support.
Other oscillators curling up from the sell side.
Lets get this cake.
PLUG, Bearish to 27.60 or equivalent Looking on weekly chart PLUG is higher High of this week. Plug can come down to 27.60 starting monday next week.
Inverse Head and Shoulder income ? I hope we will see a inverse HS.
If this was Wave 1 and Wave 2 is for the right Shoulder then Wave 3 could go to 2.618 because otherwise Wave 3 is to Short.
Buy = 25$ - 21€
Sell = 48$ - 39€
PLUG at critical level - time to break through
PLUG has been in an aggressive downward move this year.
The chart shows two failed attempts to get through the $29.60 resistance level. It is now attempting a 3rd and I'm bullish. Why?
The price action shows the aggressive downward move, a breakout from this move around $26.30 and a slight rotation of the angles indicating we may have found a bottom and more buyers are coming in.
But the ascending triangle is why I'm hopeful for a rotation up, this is a bullish pattern and it follows the evening out of the slope down.
The 29.60 level is critical because it is not only a stubborn resistance, but it now has the 200 EMA sitting on top of it which can also act as resistance. Double Whamy.
Because this level is so stubborn I'll be placing a stop buy order on the other side of this, with a tight stop in case of a false break and a rejection back lower.
You'll see similar patterns in Bloom Energy, Canadian Solar and some of the other green energy stocks, which suggests a category rotation giving me more faith in the move.
Suggest picking which one to trade carefully and not picking all of them without looking at correlation since they're all behaving in very similar ways.
$PLUG IH&S$PLUG retraced 70% from it's all time highs during this 2021 - Now looking at it's price action its seems that it has bottomed already - wait for a higher low and a break above $30 and the 200 MA to confirm IH&S pattern. Feel free to long above those levels when this happens. Earnings might be the catalyst for the break. I will keep an eye on this name.
$PLUG Earnings playI believe that the reaction to PLUG's earnings will create a break from this ascending triangle either the downside or the upside. Whichever direction seems fit I will either hold my Leaps that I'm in or I will hedge them with puts. I am fine with either direction but I see a break will happen.
$PLUG Possible Reversal IncomingClosing in on trading around the VPOC. Resistance at $30. Would love to see a break and retest for a healthy reversal. If not, expect a move back down towards support and an Inverse H&S to form. Depending on what happens at $30 we might see a reversal.
Plug Power | Important PositionAfter a long time, it is time for another $PLUG TA. It is an important week for the fuel cell manufacturer, as the company is estimated to report earnings on coming Thursday, May 20th 🔌🚀
Just to reflect on the chart of last months, since the 26th of January, $PLUG was unfortunately not able to get any higher highs. Completely reasonable, as the stock had to cool off after a period of massive gains. But the stock plunged in these last three months with lower lows, followed by lower highs at all times. Bad news made it even worse for Plug Power, such as a slower than expected adoption of hydrogen fuel cells, a delay in publishing its financial report, a filed shareholder lawsuit, weaker than expected Q1 targets, and profitability which is a problem that exists for such a long time. On the 11th of May, $PLUG stock even dropped below the $20 PPS. However, it recovered a little bit and is currently trading at PM for $24.19 PPS. A higher high is a must at this point to even start talking about a forming bottom at $18.47 and further recovery. First target will be around the $30 PPS where a higher push is needed than the 29th of April’s high. Otherwise, it is highly possible that the stock could go down even further.
But it looks like the sun will shine again after the storm. Plug Power is planning to expand its businesses in Asia through a joint venture with previous investor SK Group, multiple collaborations like with BAE systems, and lots of analysts are rising their average price target for $PLUG. In addition, the stock is also oversold on the RSI on the daily chart with a possible bullish MACD cross, which would normally indicate a ‘buy-in opportunity’. On the other hand, Barclays’s analyst Moses Sutton actually lowered the price target from $29 to $24, and the stock is below the 200MA and even the 50MA. In the end we will have to see in the coming weeks where $PLUG is heading towards to, as things are not stable yet. 'Would love to see a rounding bottom pattern though 😅
Plug - finally the break out ?Plug - I thought it would bounce back first.. but maybe that was finally the break out .. ready for a healthy n slow gaining
