PLUG trade ideas
2619 channel break short @618 % pullback Missed this as i focused on abnb short, easy oppurtunity, twin dojis w inside bar on IB's platform even easier short trigger 67's
Gaps get filled, short it.Clear description in chart. Correction is need, nothing can go up forever.
$PLUG Identical Bearish Candlesticks with Overbought RSI and MFIPotential hard correction to 52 or at least 50% Fibo. Yesterday candlestick showing doji shape and similar to hangman candlestick . Bearishness can be triggered below the tail of Thursday candle below 65-66 . from others ide bearish pattern can be stopped above Thursday candle above 74-73. also the decline pattern can lead to 39 which is around 50% correction from All time highs. Very interesting!
PLUG to retrace at wave 8 as supporting by indicators, PLUG will retrace and to complete all 9 waves
PLUG monster rally seems to be reversingThis is another request from a follower. I am not in PLUG and am not getting in unless it sees a nice fat retracement. PLUG rallied a whopping 1900% since June (vertical line). For those who got in early, congratulations! I contemplated jumping in about two months ago but thought it was too expensive (and still think it was) but there you have it. I missed out on this one.
It seems though that it finally peaked after a sharp exhaustion move that created a couple of exhaustion gaps. Additionally, we have two spinning tops followed by a red candle, which most likely confirms the reversal of the trend.
I am inclined to think PLUG will re-test the $37 price point, which was the resistance that it broke before the exhaustion move up (white rectangle). That would also fill the first exhaustion gap. Keep in mind exhaustion gaps are the most commonly filled among all types of gaps. The 50-ema is converging around that area as well.
Other indicators also point to a move down: MACD sharp turn, Stoch is in overbought and already crossed bearish.
I think (therefore I "bias") that a move to the previous resistance would be fitting for this one so it creates some equilibrium because this rally was insane. That would about 50% retracement. I would enter for the long term around that level if we get there.
I plotted the fib retracement levels from the breakout of resistance to the top of the rally so you can have a clear guide where the price could find support on the way down (if that happens. I honestly don't see how it would not but as I always stress, the unthinkable sometimes is possible). Add the 14-ema and the 21-ema to that list of support.
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PLUG Power volume based analysis - 3 targets before 80$ 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.
PLUG#PLUG has a massive spot to the upside Weekly zones look good for holds, I'm expecting a move to the upside here soon.
Notables for PLUG
Here we have a falling wedge, creating pressure to the downside around the 1.618 area. IF area around W formation holds, we should see some good movement to the upside back to the 50 level of last swing low/high. Expect push to the upside, retracement, then wick off of nose for the extended W formation.
RSI hitting a big resistance/ trendline resistance toogreat longterm play! and congrats to everyone who made money off calls or shares this week :) but its gone up almost 100% in a under 10 days!! remember what i always say, short gotta eat too ! dip entry is at 50 with a stop at 45 after that we can target 80 on the next bullish wave. goodluck as always friends! leave a like :)
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 - Trend AnalysisIs plug reversing? A Doji candle (day candle), price is far from EMA 200 and trend line, volume, and in overbought zone ?
plu\g pullback short i cant show lower time frames but im sitting at limit 68.50 adn 69 SS, stop above high
PLUG: 3 exit strategies you can use now!Hello traders and investors! Let’s see how PLUG is doing today!
The stock is performing amazingly well, and so far, we didn’t see any reversal or pullback signs around. And I got some strategies you can use here if you are anxious or afraid of a pullback.
First, I would put a trailing stop on the previous day’s low, and if PLUG closes under it, I would just get out of it and wait to buy back after a pullback to the 21 ema. Or I would use the hourly chart to guide me:
As long as we don’t see any bearish pattern around, we are fine. PLUG is in a strong bull trend, doing higher highs/higher lows, and you could wait for a bearish pivot to appear to sell your position.
Or you could wait for it to lose the 21 ema in the hourly chart , if you are more anxious.
But since PLUG is in a very strong bull trend, if it drops, I would only see an opportunity to buy more. Pullbacks are different from reversals, and just like Dow stated on the 6th tenet of the Dow Theory: The trend will persist until a clear reversal occurs.
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IF you dont like OIL then look at PLUG POWERPlug power doing some pretty cool things with Hydrogen Cell Batteries, and is growing fast. This price will likely be a steal in the next 5 years..
Read up on them..
Live Intraday Trading - Shorting "Plug" with market trend !!!SPY was too volatile when it started in the morning session . I was eagerly waiting to short Plug when I saw it opened higher with the gap .
It was just amazing for me when market too started going in the direction of my stock . Finally , I got what I deserved .
Short Plug ?Hi. first let me say that long term, i think plug is great and has massive potentiol
BUT, monthly RSI is 98!, that is way overbought, including Massive gaps on the Daily Chart
in addition, the S&P 500 is looking week, and we are anticipating a big correction Down.
i would wait for a more reasonable Price at aroung 40$ or less
Time to short PLUG?PLUG has kissed its fib extension and has doubled in value over the past 6 days - time for a breather?
$PLUG Monthly RSI of 97....Plug Power currently has a monthly RSI of 97.... I would argue that now is not the time to be purchasing shares for a long term investment.
100-150 could be the short term target for plug power While PLUG has had one of the best performance of the last year it could doubled in the next several weeks!
Plug went parabolic without meWhere this goes is TBD.
I saw the news on plug and threw down a few shares on black. Turned my attention elsewhere. I guess a bunch of other folks saw the same news and the stock has gone parabolic. I would not FOMO at this point unless there is some specificity around the speculation.
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