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PLUG POWER INC

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PLUG trade ideas

Plug Power got great Potential!Since the high at 75$ in February 2021, Plug has been in a Downtrend. The Price has been moving inside a Falling Wedge, which is usually a bullish Pattern. The Quarter Results that got published two weeks ago, showed that Plug Power increased their loss, after the Announcement the Price, in the following days, went down by almost 30%. The Wedge has a higher Probability of breaking to the upside and has a bullish Target of 75$, which would be a whopping 800% (!). I personally dont expect Plug Power to rise until early 2024, because their projects are delayed, their Margin is bad and they need money, also the Interest te could rise further which is bad for Tech-Stocks like Plug Power. I will update you when we got a Breakout! Have a nice Day! HenrikDaCrypto
NASDAQ:PLUG
by HenrikDaCrypto
time to go long and go up with it?Here is a stock that has constantly been hammered up and down and as a follower of this stock ive noticed it normally recovers decently well after trending down with the overall market. however on a 2 or 4 hr chart it looks to have consilidated around the low 9s and high 8s if it can continue its recovery within the next two weeks i it can break resistance of $10.61usd id look to start a long position and ride the uptrend and if needed capital if the price were to tank maybe 10% look to short it but it looks due for a reversal.. see an upside of 15%
NASDAQ:PLUGLong
by b58-nic0
PLUG | InformativeNASDAQ:PLUG If the price of PLUG breaks above the bullish line of 12.22, it may indicate a bullish signal, suggesting potential upward price movement. In this scenario, the target price could be set at 12.98. Conversely, if the price of PLUG breaks below the bearish line of 11.99, it may suggest a bearish signal, implying potential downward price movement. In this case, the target prices could be set at 11.75, 11.49, and 11.17. I'm bearish; we have a bearish engulfing on the daily chart and a few gaps below the current piece.
NASDAQ:PLUG
by shkspr
9
PLUG rises on EV Sector strengthPLUG on the daily chart demonstrates a VWAP breakout having first trended down into the lowermost VWAP bands from anchored VWAPs originating in November 2022 and January 2023. Fundamentally, PLUG is burning cash but less of it with each succeeding earnings report. In the past two months price has ascended through a couple of VWAP lines and has now crossed the mean VWAP in a sign of bullish momentum. Price bounced up from the POC line of the volume profile in a demonstration of bullish buying power and buyers defending that support level. The dual RSI indicator shows that the 3-hour time frame RSI line in blue crossed over the slower weekly time frame RSI line in black about June 28 and they are both above the 50 level is another bullish sign. On June 30, the zero-lag MACD had its lines descend to the horizontal zero line and bounce upward over a positive histogram. The relative volume indicator shows increasing overall volumes with the mean rising from 15M to 26M daily overall. The presumption is that increasing volume supports price action while decreasing volumes would cause price and volatility stagnation. From this analysis, I conclude the time is right for a long-swing trade of PLUG. i will zoom into a 15-30 minute time frame seeking a pivot low from which to enter using a stop loss of 12.15 and targeting those upper aVWAP bands/lines.
NASDAQ:PLUGLong
by AwesomeAvani
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