UP TREND FOR PLUG NEWHi guys im quite new here but i think i´ve got this one right, plug power is going up with triangel pattern and Fabonacci retracement. It´s alredy going up a "comfirmd" bull signal i think.
PLUN trade ideas
PLUG - January 24, 2021PLUG provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets across North America. The company has been a large beneficiary of the Democratic win, doubling from just a $15B market cap to $30B in January 2021. Although this valuation is extremely high and pricing in forward 5-10 years of growth, PLUG has the opportunity to continue on this parabolic trend supported by strong technical levels. On Friday it surged higher, breaking the short term downtrend and now rests below resistance at 67. A strong move higher past this level sets plug up nice for a good swing trade to ATH of 74, and potentially higher to 84 to complete the expected move.
PLUG supply/demand zonesThis is 4 hour PLUG chart with supply/demand zones
Please do your own charting I'm new trader.
If you have some tips feel free to leave them in comments thank you.
Bullish Pennant Formation - Looks like its going to breakout!Price had a rally early January based on good news from Plug Power. The company formed a $1.5billion deal with SK Group, and soon after announced another partnership with Renault in the same week. Biden Green New Deal is also another factor that is pushing green energy to a whole new level.
Currently we can see some price consolidation forming into a bullish pennant pattern. Am expecting a breakout soon. Excited for where this stock will go!
TP1 = 87.28 (height of flagpole)
Stop loss = 56.66
Keep this on watch for a re entry80 is your next pt. AS you guys know we like plug. PLUG IS SOILD as over the last year alone it has more then huge contacts one with $WMT. The problem which is not a problem was the fact that this took out like a rocket so if you missed the break on jan 8th it left you behind
We are now forming a wedge. if we can close above that wedge on at least the 15 min chart id be looking to get long and swing 70 calls for feb 19th pt1 80.52
NEWS
01/1909:08PLUG Announces Selection of Rochester to Host Plug Power Innovation Center - Source
01/1907:00PLUG Names Ole Hoefelmann as General Manager of Electrolyzer Business - Source
PLUG Groupe Renault & Plug Power join forces to become leader in hydrogen LCV - Source
01/0618:00PLUG Receives $1.5B investment from South Korea's SK Group via buying 51.4M shares at $29.2893/shr (9.68% of market cap, 11.6% of shares), to partner on Hydrogren Fuel Cells in Asia Markets -
PLUG Expands hydrogen and fuel cell solutions into Walmart eCommerce Applications
Plug Power Pullback change for new entryPlug Power may be have a little pullback, which may make it possible to buy it cheaper for the trend.
Currently not buying, but hold your stocks, if you have already.
Price correction before continuing trendLarge price gaps from the quick moves to ATH. News and announcements now priced in. Potential double top could result in short term reversal but fundamentals and renewable energy hype will continue driving this bullish market.
Buy time for me. Will hold and buy through dips with long target $79
This is just an idea, not a suggestion
PLUG broke out of the bullish channelAlright, it broke the bottom level, but I see it advancing in it - today was a bad day for the market. It formed a tiny bullish channel right below the main one and I will be closely observing how it behaves in the next week.
$PLUG target could be between $48-$53There could be a ABC correction pattern happening in $PLUG chart. In that case, the target price could be $48-$53
observation of plug power from a 15min chart perspectiveI have more question than analysis in this amazing window view from the 15min chart, like
will the downtrend fill in the gap between $59.68- $53.32 and go even further down to acquire more demand
@61.85 with the support being placed @59.68 will bounce back up from there to turn a bullish run for $68
this seems like the perfect picture to me which i will gladly enjoy the view
sheers guys
PLUG Power Has To Make A ChoiceThe hourly time frame shows what we are seeing with etherium as well. The range of the candlesticks is shrinking and a breakout/breakdown is now imminent, which way? Who knows, but once it makes its move we act accordingly.
PLUG POWER ($PLUG): BEARISH OR BULLISH? 🤔$PLUG is more likely to be bearish in the short term and bullish in the long term (it's more a retracing than a reversing).
This pennant pattern predict us a bullish scenario.
What's your opinion on this? Your comments are welcome.
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Legal disclaimer: I am not a financial advisor. The advice here given is not a financial advice even though my excitement might make it look like such. This account shouldn't be followed by anyone expecting something from me. You trade at your own risk and nobody can guarantee you results. Even if someone could, I don't.
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
