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PLUG POWER INC

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PLUG trade ideas

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. ------------------------------ 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.
NASDAQ:PLUGLong
by JSAL
6
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).
NASDAQ:PLUG
by DEXWireNews
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.
NASDAQ:PLUGShort
by AxiomEx
1
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.
NASDAQ:PLUG
by MarketPax
5
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.
NASDAQ:PLUGLong
by MarketPax
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!
NASDAQ:PLUGLong
by MarketPax
1
Next bull run or false breakout?Last Friday Plug has broken the 4hour GMMA, which is a bullish sign. However, on a daily level, PLUG price has reached 50MA which could be a potential resistance. Also, it is now at the top of the recent downward resistance trend line which might face rejection too if it does not hold. During the past few weeks, I have noticed that PLUG likes to surge before market and plunge when the market opens. Since PLUG has been a weak stock for so long, and its stock price has been very choppy since Nov 2023, will this break out the next bull run or a false breakout? I guess I will have the answer on Monday, in which I will observe: (1) whether the price stays above 4hr GMMA, (2) whether it breaks through daily 50MA (3) whether it breaks through the recent downward resistance trend line
NASDAQ:PLUG
by kitw219
2
PLUG set up on support for Long EntryPLUG is on a 60 minute chart ascending in a relatively parallel channel and oscillating within it. Price has cycled into the lower thick green support trendline. A falling wedge pattern is seen It is now on its second touch of the support. PLUG has gained 75% in three weeks. As a green energy small cap, it is sharing an uptrend with FCEL, QS and others. I find PLUG properly situated to add to my position taking a trade of more shares long. I call it buying a fall into support and buying a falling wedge set up for a breakout ( again). Yesterday a successful put option scalp provided profit to redeploy here. I will roll over options expiring February 16th into March 16th. The monthly call contracts have the narrower spreads and better liquidity from volume.
NASDAQ:PLUGLong
by AwesomeAvani
2
PLUG Charts Course for Growth Amidst Green Hydrogen RevolutionsPlug Power Inc (NASDAQ: NASDAQ:PLUG ) has emerged as a trailblazer in the green hydrogen economy, reporting a year of strategic growth and operational milestones in its latest financial results. As the world shifts towards cleaner energy alternatives, PLUG's commitment to driving sustainability and energy independence through innovative hydrogen solutions has positioned it as a frontrunner in the transition to renewable energy sources. Fueling Operational Excellence: NASDAQ:PLUG 's relentless pursuit of operational efficiency has propelled significant revenue growth, underscored by advancements in hydrogen production capabilities and the expansion of its energy solution portfolio. The successful commissioning of the Georgia hydrogen plant, boasting the largest PEM electrolyzer system in the U.S., highlights PLUG's dedication to scaling up hydrogen production infrastructure. Innovative Product Offerings and Market Expansion: PLUG's foray into new product launches, including hydrogen storage tanks and mobile liquid hydrogen refuelers, showcases its commitment to driving innovation in the energy sector. Moreover, the expansion of NASDAQ:PLUG 's installed base with key customers and the introduction of a new platform for mid-market material handling sites signify its growing footprint in the material handling space. Strategic Investments and Market Positioning: Beyond operational achievements, NASDAQ:PLUG 's strategic investments aimed at promoting global sustainability and energy independence have reinforced its market positioning. With over 69,000 fuel cell systems deployed and plans to operate a green hydrogen highway, NASDAQ:PLUG is not just a player but a leader in the hydrogen fuel cell technology market. By targeting multiple green hydrogen production plants, NASDAQ:PLUG is laying the groundwork for a sustainable energy future. Path to Decarbonization: PLUG's CEO envisions a future where decarbonizing the economy is not just a goal but a reality. Through its green hydrogen initiatives, NASDAQ:PLUG is driving tangible progress towards achieving this vision.
NASDAQ:PLUGLong
by DEXWireNews