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PLUG POWER INC

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PLUG trade ideas

PLUG rises out of retracement of previous uptrendPLUG on the 4H chart presents healthy price action. It uptrended for a month starting in mid-May and then completed a 50% Fibonacci retracement from which it pivoted on Tuesday, June 27th. The zero-lag MACD shows a classical cross of lines under the histogram while the histogram was changing from negative to positive. Likewise, the RSI bottomed out at 32 and ascended to 55. All things pointing toward a well-established reversal, I will open a long trade here targeting the previous pivot high of 11.75 ( a tweezer top) on June 14th. The stop loss is 9.8 at the level of the pivot highs of June 7th. The trade potentially offers 15% profit in a week or two with minimal risk.
NASDAQ:PLUGLong
by AwesomeAvani
PLUG Financial Challenges and Stock OutlookFrom a fundamental perspective, Plug Power Inc. is facing some financial challenges. Firstly, the company is currently not profitable, with a profit margin of -100.41% and an operating margin of -93.54%. Additionally, the company's return on assets is -7.87% and return on equity is -18.43%, which may suggest low managerial effectiveness. Over the past year, the company's total revenue was $770.92 million, while net income was -$774.08 million, further demonstrating significant operational losses. Concurrently, the company's operating cash flow is -$895.62 million and levered free cash flow is -$1.19 billion, which could indicate poor cash flow circumstances. Nevertheless, the company's current ratio is 4.39, indicating strong short-term debt repayment capabilities. This could potentially provide the company with some financial stability to handle future economic pressures. From a technical perspective, while Plug Power's daily chart has broken through the previous rectangular consolidation range, ending the downward trend, the upside in the short term is likely to be limited due to fundamental pressures, making explosive increases difficult. Therefore, even though all technical indicators are showing bullish signals, the stock's rise may be modest. Taking all of the above into account, if investors currently hold Plug Power Inc. stock, it's suggested that they set a stop-loss level between $8 and $7.35. If the stock price falls below this range, investors should decisively exit and observe. For the anticipated upside, the first target can be set at $11.49. In conclusion, although the technical analysis of Plug Power Inc. shows some upward trends, fundamental issues like lack of profitability and poor cash flow conditions could potentially exert downward pressure on the stock price
NASDAQ:PLUG
by TradingJ888
$PLUG Leading A New RevolutionWith the wider adoption of green hydrogen energy and Plug Power, Inc. (NASDAQ: PLUG) being one of the leaders in the hydrogen energy market, PLUG seems to be one of the frontrunners to benefit from the new trend. Earlier this week PLUG landed three electrolyzer deals for European green hydrogen projects which further shows Europe’s commitment to green hydrogen as a future energy source. After the news PLUG stock soared more than 15% and has the potential to continue running thanks to its short squeeze potential. With its Georgia plant set to become the largest green hydrogen plant in the world that utilizes electrolyzers and plans to open more plants this year, PLUG stock is shaping to be one of the best green energy stocks to buy this year. PLUG Fundamentals The news that PLUG closed three deals for European green hydrogen projects garnered a lot of interest from investors in the green energy stock. This news saw the stock jump more than 15% before settling. PLUG stock has the chance to run even more as the stock has a high short interest of 19.7% and a 100% utilization rate, which can result in a short squeeze as short sellers would be forced to cover their short positions. In its Q1 2023 earnings call, PLUG announced that it reached record production of PEM Electrolyzer Stacks in the quarter and is on track to achieve the 100 MW per month goal in Q2. It also announced that the Georgia plant is expected to achieve full production by the end of June which will make it the largest green hydrogen play in the world that utilizes electrolyzers, which means that PLUG will see another increase in production in the second half of the year. It was also announced that PLUG has plans to commission more plants in New York and Louisiana in 2023, which indicates that PLUG expects a further increase in demand and the new plants will be made to cover the demand. In the best-case scenario, PLUG expects to achieve $1.4 billion in revenue in 2023, an 80% increase from last year. The increase in revenue reflects the global shift to clean energy sources like green hydrogen energy. That means that as more countries try to eliminate fossil fuels and achieve 100% clean energy production in the future PLUG’s growth will continue. Furthermore, PLUG is working to secure additional funding with the company in talks to secure a loan from the Department of Energy (DOE) and an Assets Based Loan (ABL), both PLUG are confident in securing later in the second half of the year. Earlier this year, the DOE announced a $1.5 billion plan to accelerate the widespread use of clean hydrogen. This news means a lot to PLUG as one of the big players in the clean hydrogen energy market. The U.S. wanting to accelerate the development and use of hydrogen energy means that the DOE may provide support to PLUG in the form of loans on more favorable terms in the future. PLUG Financials In its Q1 2023 report, PLUG’s assets decreased 10% YoY from $3.3 billion to $2.9 billion, and its cash and cash equivalents decreased 31% YoY from $690 million to $475 million. PLUG’s total liabilities saw a slight increase of 1.6% YoY from $1.704 billion to $1.732 billion. Revenue also increased 50% YoY from $140 million to $210 million. Operating costs increased almost 36% from $103 million to $140 million, which contributed to the operating loss increase of nearly 50% YoY from $139 million to $209 million, which amounted to a net loss of $206 million – a 32% increase YoY. Technical Analysis PLUG stock’s trend is neutral with the stock trading in a sideways channel between $7.51 and $8.1. It is worth noting that following the news of the 3 European deals, PLUG broke its channel and entered another channel between $8.54 and $9.53. Looking at the indicators the stock is trading above the 21, 50, and 200 MAs which are bullish indications. However, the RSI is overbought at 72 and the MACD is approaching a bearish crossover. It is worth mentioning that there are two gaps on the chart near $9.3 and $7.8 that may be filled in the future. If the stock retests its support successfully it would be a sign that it entered the new channel which makes it likely that it will fill the gap near $9.3, however, if it drops to its previous channel then it would be more likely to fill the gap near $7.8 As for the fundamentals, PLUG stock just witnessed two catalysts landing three deals for European green hydrogen projects, and releasing its Q1 2023 earnings. It may also see a catalyst in the second half of the year if PLUG can secure additional funding either through ABL or the DOE. Since the RSI is overbought and needs to recalibrate, investors could wait for PLUG stock to consolidate first before buying ahead of the potential funding in the second half of the year. PLUG Forecast The global market is shifting to clean energy solutions and with this shift hydrogen energy demand is increasing. That puts PLUG in a great position for the future as it is one of the big players in the hydrogen energy market, as PLUG can look forward to support from the DOE due to the U.S. wanting to accelerate the development and use of hydrogen energy. With plans to commission more plants in 2023 and landing three deals as a part of the European green hydrogen projects, PLUG is on track to reach at least $1.2 billion in revenue in 2023. The future seems exciting for PLUG, which is why PLUG stock is one to watch.
NASDAQ:PLUG
by Penny_Stocks_Today
Watchlist 2023-05-10 CPI $SPY $SQQQ $TQQQ $UPST $NVAX $PLUG $TWLAMEX:SPY -all eyes on CPI data this morning. Consensus is set at 5.0% YoY and .04% MoM. YoY decreases slightly to 4.9% and MoM came in slightly higher at 0.3% which is virtually in line with estimates. The market has taken this a bullish data point. Wait for quality pullbacks to get long into this and remember the market internals below for a trend day. For further confirmation of a trend day, watch for: USI:ADD pinned near +\-2000 USI:VOLD ratio over +/- 3 USI:TICK cumulating past 0 wicking to +/-900 NASDAQ:UPST - soars 40% after upbeat earnings outlook, funding progress. This has the highest short float in large cap stocks at 35%. Don’t' be fooled by the 40% gain for 5 ATR gain since it's down 96% since the top. This is finally a reason for shorts to get out of this positions. Want to fight for a good price getting in near the 18.50 bottom, while still ensuring the buyers are in control. Support 18.50 Resistance 20.50 Inflection 19.50 NASDAQ:NVAX - day 2 continuation over 9.90, currently sitting at pivot support high and has plenty of room upwards. It's a long over 9.75. NASDAQ:PLUG - looking for a buy near the top of the range from late PD 's session at 8.07. if it's over this level it's a long NYSE:TWLO - if the market turns red, TWLO is perhaps a good name to be short. Other Watches. Anchored VWAP shows that any buyers who bought the drop on Nov 4 2022 are now deeply underwater as that value is 56.87. We will have to watch for a clear reject to risk off of because there is too much risk in a tending down stock like this in the PM.
NASDAQ:PLUG
by UnclePennybagss
Time to buy PLUG? The PLUG short I posted a while back turned out to be right-on-the-money. Now I wonder if it's time to scale back in. PLUG has been absolutely hammered and is lagging behind the recent rally. I trade based on technicals, so I have no fundamentals to point to as to why this might be the time to buy PLUG, but looking at the chart, I can't help but think: Who the hell is selling here? We've clearly established some local support around HKEX:9 here, supported by the VPVR spike circled on the right. I think this is going to come down to macro trends, so this idea could easily get invalidated. But I've marked some targets based on previous levels I'll be looking to take profit on if we do see the rally I'm hoping for. If this idea^ doesn't sound all that convincing, then don't buy, I don't blame you. I would consider this a pretty aggressive entry point, but I'm not watching the market closely enough to wait around for more clear indicators of a reversal. So I'm yolo'ing in and will set an alert to prompt me to stop out if I'm wrong. I already got stopped out of my previous re-entry attempt, which is also partly which I'm scaling in. I also marked a mega-bear target, in case I'm horribly wrong and the market nukes or continues to slowly bleed down for some reason. Happy trades, CD
NASDAQ:PLUGLong
by cryptodonovan
5
Personal Journal - Traits of a professionalThis is a personal note to myself. I am starting to understand the traits of a successful and professional trader. Less important is the understanding of the charts and risk management. These things are simple enough to learn. More importantly is that I've come to understand myself. I've learned why I was not patient. I learned why I keep oversizing. I learned why I hesitate. I learned why I couldn't stay consistent. Though I am not fully profitable yet, I feel that I am becoming more aware of the traits that I need to exhibit to become successful. The mistakes mentioned above has cost me more than any other indicator setting. Sure, it's beneficial to fine tune your trading system. However, it's imperative to fine tune yourself in relation to the markets. You never need to get into a trade. You never have to trade with all your capital. You never let your fear stop you from getting into a trade. You never deviate from the plan because you think you know better. Beyond the charts, the numbers, and the screen, it's just you. Your results are a direct reflection of you and your internal state of mind. To trade at the highest level, you must quell the lowest depths of yourself.
NASDAQ:PLUG
by Tradersvoices
1
Personal Journal - The Dangers Of WishingThis is a personal note to myself. You know you do this - day dreaming about how high the chart is going to go when you're going long. You start wishing and hoping that the price will just keep rocketing up in your favor. 1 points, 2 points, 3 points in profit. Who knows where else it could go, maybe 30 points! You're now 10 points in favor. You move your stop to break even but you don't want to take partials, you will only exit for at least 30 points. However, slow but surely the market starts to shift, 9 points, 8 points, 7 points, your unrealized gains are starting to drift lower. But you must hold for 30. 6 points, 5 points. Your elation and and excitement has turned into worry, confusion, and disarray. Why is it not going to the moon? Suddenly a quick spike lower takes you out for breakeven. You may have been able to see the signs of the market turning - lower highs, failed follow through momentum, weak bounces. But you were too blinded by what you wish to see in the chart versus what you're actually seeing. The mind is a powerful thing, it can make you imagine whatever it is you want to imagine. But it can't force the shifting current of the markets as you see fit. Bring yourself back from your daydreams. You must analyze price, not zone out and react to price. The game isn't to forecast price and wish it goes in your favor. The aim is to forecast price and look for signs of it turning - even if it hasn't reached your target.
NASDAQ:PLUG
by Tradersvoices
Personal Journal - Reward yourself through the processThis is a personal note to myself. It's okay to be proud and happy of your accomplishments - whether in life or in trading. You should be. You are doing things that many others would not. You are playing the world's greatest game - Speculation. As such, on the times when you win, it's okay to pat yourself on the back. Some things you have to be careful with is overly exciting yourself and rewarding yourself after a win. Win or loss, the reward is you following the plan, not the number that appears in your trading history. The bigger the number, the bigger excitement right? Isn't this why we got into trading in the first place? For the flashing lights, glitz and glamour? Wrong. Those may be the reasons we got into this industry in the first place but your stay here is guaranteed to be short lived if you want to continue trading the markets so you can feel better about yourself. This game is full of savages and cutthroats. Only the most levelheaded ones stay alive. So be proud of following your process, even if it's a loss. Be proud of following your plan, not only when it wins.
NASDAQ:PLUG
by Tradersvoices
Personal Journal - Learn when to stop.This is a personal note to myself. Imagine the amount of money you could have saved if you simply stopped. The aim of this game isn't necessarily to make money - it's more to keep it. You will feel by not trading that you are "missing out". However, what is actually happening is that you are "missing losses". If you trade with the NEED to be in something then you should definitely not be in anything. True professional traders don't chase a trade - they wait. If there is no signal, they don't trade. It's that simple. They understand that so long as they still have capital, they can still trade. It's okay to take a loss, it's not okay to keep taking losses when your mind is not aligned with the market. When you feel anxious wanting to get into a trade - stop. Get outside and take a walk. When you feel the urge to make money back - stop. Go exercise. When you feel emotional during a trade - stop. Get out.
NASDAQ:PLUG
by Tradersvoices
Personal Journal - Patience WinsThis is a personal note to myself. Patience wins. After sometime in the markets, you are able to "see" winning set ups. You're now able to stay in trades and ride them. You're no longer moving your stop losses or not setting one. The last issue to tackle is the ability to wait. Far too often you took a win on a set up just to try and reverse it to lose more than you've made previously. Or after a win, you tend to take many losses that end up bigger than what you've made and then some. Be content. Celebrate a win. The milestone of a successful trader is not that he is able to trade every market top or bottom. It's that he is able to wait for the set up in which he knows best. Methodical. Surgical. Tactical. Now this may mean waiting the whole day or not taking a trade at all. This does not mean you've failed or that you've left money on the table. You've kept money. You've kept yourself from harm. This is a win. Wait and win.
NASDAQ:PLUG
by Tradersvoices
Daily Wisdom - The Bigger PictureI'm not saying anything new or profound here. This is mainly a reminder to myself. Today is a tumultuous day. Started off with a profit coming from yesterday's holdings. However, knowing that I should trade smaller and on a higher timeframe, whenever I look at charts, my old habits come back - overleveraging and overtrading. If I can make this much on a trade, surely if I quadruple the position next time then I can make that much more! Also if I can be profitable swing trading then surely I can win 10 times as fast if I day trade. My forte is to look at the bigger picture - what is the story price is telling you over the past few days or weeks? Yet when looking at flashing colors and numbers changing on the charts, I become blind sided - my charts zoomed in so close I can only see the past 10 minutes let alone the day. Zoom out. Look at what the chapter is telling you versus the paragraph or sentence. Also - remove the need to "make money quickly". Appreciate every win and understand that they will slowly compound. You do not need to make 10% in a day.w Control your mind, control your trading, control your life.
NASDAQ:PLUG
by Tradersvoices