PLUN trade ideas
PLUG Power Long and Strong! Broke downward trend, but maintained long-term upward trend. RSI indicators show buying signal. Analyst Price Target $35.
Shorting GPS and Buying PLUGOnly placing two trades for tonight's open.
First one will be shorting The Gap
Short a naked call at 38 strike for $1.04, going to mange it for 45 days.
Or close it when it goes above $1.22
Lastly I'm going to buy PLUG as a ratio spread
Short two contracts at the 26 strike and brought the 28 strike for $1.27.
PLUG Swing SHORT then HOLDI have been following PLUG for a while and buying the dips like crazy. If you haven't already, now is your time to get in.
Plug... Still in doubt clean energy had a nice week and plug individual price upgrades help move the stock but is the reversal really here? Here are my 3 reasons I'm not convince of plugs comeback
1. This stock is severely shorted with a 20% short float . Anything over 10% is to high.
2. Still below 200ma (Gold line) Got rejected thursday.
3. Needs to break above that downtrend (Whiteline)
There is some bullish technical views.
1. they broke through resistance on the RSI which I highlighted
2. Macd is is doing a golden cross
3. And on the weekly chart they finish last week with A Hammer candlestick which is huge for a reversal clues.
I'd wait for a move above the 200ma and downtrend which is about in the 30$ range. if it gets rejected Ted short it!
50ma - purple line
100ma - blue line
Good luck, lose your opinion and not your money
plug power sees the light!Dollar Cost Averaging on the way down
plus another nice limit order at 13 bucks
this is a nice hedge for Tesla
since there is uncertainty of
how electric cars will run in mass adoption
$PLUG Possible New Support LevelPLUG may have bounced off of the $26 support level and be heading toward $35 resistance. Either the $35 resistance or the .236 at $37 will likely cause it to go back and confirm the $26 support. That's of course assuming it rises that far before confirming. I won't open a call until it confirms $26 support.
Ideas on $PLUG forecast for the next few months. Whats up guys, just wanted to share my opinion on the potential rebound of PLUG and highlight a reversal in their 2 month downtrend. Not a professional and fairly new to charting, take it easy lol.
the targets of $Plug with harmonic patternsXABC is a butterfly harmonic pattern:
AB=0.78 XA
BC=0.38 AB
tp1=1.6 BC=$62 *reached*
tp2=1.27 XA=$134
tp3=2.24 BC=$325
other targets with X345 cypher or shark possibility:
tp4=1.13 3-4=$94
tp5=1.41 3-4=$155 *more likely*
tp6=1.6 3-4=$220
since other targets of butterfly are higher than $75 the price zone of could not be dangerous, but be careful at this price zone.
PLUG - possible end of correction ? (4H/1D - Mid term plan) Hi Traders,
Let me know what you think about this count.
My opinion for entire EV market is we could be near the local bottom and preparing for another growth wave.
Lets se, trade safe and use Stop-loses. ;)
PLUG - Interesting PLUG RSI breakout hits Scanning through PLUG today to try to find potential direction and I see some clear r.s.i. breakouts and re-taps of its previous r.s.i. resistance. I'm already long PLUG in June contracts as of Friday. We could see a nice push to 30 if these hold. Large call option sweeps have been showing on our bots, as well as large dark pool orders.
PLUG- Future of hydrogen clean energy is uncertainPLUG is arguably the leader of hydrogen fuel cell company. However, there are several concerns that need to be addressed.
#1. Hydrogen clean energy is still at the proof-of-concept stage and the natural gas industry seems to be its biggest advocate. Hydrogen gas is emission-free only if it's made by electrolysis from renewable energy.
#2. Currently, major renewable technologies include hydroelectricity, solar PV and wind power. Unlike solar and wind power, hydrogen doesn't occur naturally and needs to be manufactured from natural gas. This means that the significant time and cost will go toward setting up expensive infrastructure, storage and distribution networks making hydrogen power much harder and much more expensive to scale compared to solar and wind.
#3. Personal transport is one of the biggest application of the hydrogen, yet FCEV (Hydrogen) is steadily losing ground against BEV (Battery Electric Vehicle). The falling battery price and EV tax credit will only accelerate the adoption of EV, further widening the gap between FCEV and BEV.
#4. Sky high valuation and recent accounting issues.
I'm ambivalent toward PLUG and other fuel cell companies in general. However, I think it is a speculative bet and a good candidate for the swing trade given that one of the focuses of Biden's 2.25 trillion infrastructure plan is renewable power and that investors just love to throw their money on anything related to green energy due to the global decarbonization initiative that aims to reduce the CO2 emission by 50% in 2030.
I would initiate a small long position inside the demand zone. Conservative play is to set the target at the daily POC and exit completely. Alternatively, you can sell 50% and keep the remaining position as the potential long-term holding.
Do your own research. Not the investment advice.
Oversold! Due for a bounce towards high 30s, even low 40sPlug is in oversold territory. A bounce towards high 30s and even low 40s is due. High 24s/25s are good entry points. Manage risk accordingly. Good luck!
Plug Power - Watch the breakout Long term trend intact. The falling wedge caused by strong consolidation might be finished soon. IMO a very good entry point!
Good luck everyone.
PLUG - Descending wedgeImportant level where we can see a bounce up. We need a break out of the wedge formation to see some upward movement again.
Unusual Option Activity Plug $1.4M premium traded above OINASDAQ:PLUG $1.4 M in premium traded for $29 strike calls for April 23th expiration traded Today.
Unusual Activity for $29 calls about 17,000 contracts traded around 2:39pm @ approx $0.70 (Above Open interest of only 1252)
Plug power earnings date is 05/06/2021
This stock is showing a nice hammer on the daily close today after falling past few days indicating a possible reversal in trend.
The stock has bounced off Long term support at 24.52 & also held 25.71 previous support.
It is also showing a possible cup and handle on the 15 minute chart with today's bounce. Expect support to hold and stock to keep running up towards ER after drawdown.
2 week's time on these options I would recommend a vertical spread to keep theta at bay.
Support 25.71
Resistance 27.77
Target 28.35, 28.75, 29.25 & 30.41
SL close below 25.75 new support.
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