PLUG trade ideas
Plug power breaks out in final C wavePlug power is breaking out today from a consolidating triangle "B" wave that has been forming for several weeks. I suspect this C wave will terminate commensurate with when the rest of the market finally tops out and rolls over, which is almost at hand
$PLUG Plug Power Upside Targets
Todays Upgrades
PLUG Barclays analyst Moses Sutton initiated coverage of Plug Power with an Overweight rating and $7 price target. The company's leading position places it in a small group of renewable pure plays that are viable alternative investments to mainstream alternatives, Sutton tells investors in a research note. The analyst sees a "long-term growth narrative" that reflects "multiple points of inflection over the coming years."
22% short interest
Company profile
Plug Power, Inc. provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses. The company was founded by George C. McNamee and Larry G. Garberding on June 27, 1997 and is headquartered in Latham, NY.
PLUG 5+ year base, wedge breakout comingPLUG currently consolidating in wedge for approx. 2 months with support found on an up-curling 50 day SMA. Uptrending its way out of a 5+ year basing pattern (this thing seriously looks like a Gold stock), the wedge is located just under major resistance, which is all of the congestion of the 2014 selloff from the highs. Theoretically, PLUG is in the Wave 3 from an impulse wave that began in 2013, with a 1.0 (minimum) extension to +$12, the 1.618 takes you nearly to $20 (ignore date associated with Wave 3 completion) and of course more upside is possible). I I am looking to buy the wedge breakout @ approx. $4.5 and give this one some space and time. Short term target would be range of wedge/channel + breakout level which would put you @ about $5.50, or just below the prior highs, so there is potential for timely profits.
-This chart appears to be a perfect mix of a short term opportunity which is in the midst of a very bullish long term trend, hence, a potentially great trade, as this wedge breakout may give way to a substantial move higher within that longer term Wave 3.
-You could view this as a massive cup and handle as well. All the same to me. When the rounding bottom is this big, I just call it a base.
Positive macro-context for PLUG (long term)PLUG seems to be a quite safe bet for the future. Here are my arguments:
From a financial perspective, EBIT is negative, but total revenues are growing at a stable pace since years now. Plug will certainly find it's way to profits when industrialization optimized (see arguments for this below).
EBIT is lower, but is explained by higher cost of produced goods (and not by the fact that they sell less). Productive investment is a key aspect in such an innovation demanding industry.
Plug is specialized in fuel cells and created an expertise in powering the following:
-Drones (hydrogen backed tech allows for longer lasting flights for these aerodynamics and size of machine) :https://www.plugpower.com/products/progen/fuel-cells-for-aerospace-uav-applications/
-Forklifts
-Robots
-But also a promising truck segment (www.bizjournals.com
There should be a growing demand for these 4 in the context of a development of warehouses utilities and delivery services worldwide: www.bloomberg.com
Amazon (led by an incredible momentum currently) invested in PLUG: www.investopedia.com
I wouldn't be surprised to see an offer from Amazon to buy PLUG, which would make the stock skyrocket, giving to Amazon the opportunity to diversify even more.
Walmart (which is more resilient than average during COVID as a consumer cyclical stock) is a big client also:
"Plug Power plays huge role helping Amazon and Walmart supply America during COVID-19 crisis":
www.timesunion.com
Macro-context: Environmental policies and Hydrogen demand & facilities to grow:
seekingalpha.com
www.globenewswire.com
Plug power can become a leading seller of hydrogen:
investorplace.com
PLUG - failed breakout vs. impending short squeeze?PLUG with 80% volume shorted today with a bearish candle on the daily..
The question is whether this was a failed break out w/ an inverted H&S or a set up for a short squeeze into earnings?
4.71 resistance but appears to have found support at 4.31 near end of day trading.
Expect that if 4.29 can hold, holding CALLS into earnings seem like an attractive idea. Below that level likely means we re-test the trend line.
Plug walking into the profitsunfortunately this pattern isn't as reliable as the Bart Simpson pattern but I've heard its reliable
Plug power. New Trend?Will plug power break the trend and go up📈?
Comment what you think about the chart👍
Be Free to join the Plug power shareholders Facebook group :)
Plug Power, Inc on trend Plug Power, Inc. provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses. The company was founded by George C. McNamee and Larry G. Garberding on June 27, 1997 and is headquartered in Latham, NY.
PLUG POWER (PLUG) Weekly ChartDates in the future with the highest probability for price direction reversals
PLUG Long ideaPLUG is moving higher above the supporting averages. Should keep moving. Volume has been increasing. BLDP and FUEL in the same area are also prospects
PLUG long ideaI don't usually take a trade with prices below certain moving averages, but PLUG looks like it is at support. A low risk buy with a stop below the 200sma might pay big rewards.
$172 Million Contract with "Fortune 100" unnamed companyHighly likely that this customer is amazon.
If it is. THIS IS HUGE! And it is not yet priced into their earnings estimates so this could greatly boost earnings growth numbers in their next report.
They issued shares which is why the recent slump
YET EVEN WITH SHARE DILUTION... we are seeing a sharp increase in price showing that even though it is less scarce, shares are EVEN MORE in demand. I like this speculative bet
4.20 if a good resistance if it will become support? I love all the electric companies
I think the potential is big in the future
Short $PLUG - Correction Anticipation$PLUG is highly volatile and had a huge "buy the news event" when it announced a $172m contract over 2 yrs by an unnamed buyer. This is undoubtedly good for $PLUG over the long term, but an +18% move yesterday is optimistic at best. Shorting for a 5-8% profit exit.
PLUG Bouncing of Support Line PLUG closed above 50 EMA with a lot of volume. There's another support at $2.89 at a trendline and previous resistance level. RSI is near the middle.
I'm planning on buying on Monday.
