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PLUN trade ideas

PLUG: Time to buy?Hello traders and investors! Let’s talk about PLUG today! The stock is highly speculative now, so, let’s see what’s going on here, and proceed carefully. Usually, I see drops like this as opportunities to buy . As someone who’s out of PLUG, movements like this caught my attention, yes, but there’s a right way to proceed on situations like this. Now is not time to sell , the time to sell was during our last analysis about exit strategies, nearly 2 months ago, which was a public one and the link to it is below this idea. What’s more, movements like this, caused by news, often don’t change the main trend. I’m not here to talk about news or fundamentals, just Price Action . PLUG is near a support level, and as far as I know, we must buy near supports – but only if the right pattern appears. Since we still don’t know the short/mid-term impacts of the volatility, we must wait for a bullish pattern, be it candlestick or chart pattern, before jumping into any conclusion, and set the appropriate R/R ratio for the trade. Now, let’s see the weekly chart: In moments like this, it is very important to set the R/R ratio and the right size of your position because if PLUG doesn’t react quickly, and it loses the 21 ema, then the next target would be the $ 30.40, or even the $ 22.25. I find it unlikely to drop, because since it did a top in January, the volume was low, mostly below the average, and this doesn’t indicate a real sell-off, just a pullback. All I know is that the R/R ratio is good for the bulls, but there’s nothing to do now, but wait for some confirmation . And if you liked this analysis, remember to follow me to keep in touch with my daily studies on stocks, and if this idea gave you a new insight, please, support it with your like! Thank you very much!
NASDAQ:PLUG
by Nathan_The_Finance_Hydra
16
ADDED to $PLUG Target 63.52 for 32.22% ADDED to $PLUG Target 63.52 for 32.22% Or next add level is pretty close at 32.56 Huge Range on this one also, haha. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading.
NASDAQ:PLUGLong
by SPYder_QQQueen_Trading
2
PLUG Mean ReversionExtremely oversold. While its fundamentals might still point that it is overvalued, its technicals are looking strong for either a strong move back up as shorts take profits and people buy back in now that it is at a key support level and has shown resistance towards a further down move. High Probability, but risky due to its high volatility. Trade Ideas: Shares : Long between 33-42 for 50, 55+. Short Put : 25 Strike expiring 4/16 for $0.72 credit. 83% POP and very cheap at $250 BPE for a solid 28% ROC.
NASDAQ:PLUGLong
by punitarani
Bullish Reversal- Inverse H&SAfter a long regression, PLUG seems to have found its bottom after falling 40% from its 52-week high ending the regression with an inverse head and shoulders. Bollinger Bands are squeezing on its 6-month chart along with what looks like an impending MACD cross. PLUG needs to break the FIB resistance levels charted which seems relatively likely as long as the broader market doesn't experience a pullback as 10-year treasury yields have been fluctuating. PT1- $51.81, PT2- $56.19 Has strong top resistance at the $69-70 level
NASDAQ:PLUGLong
by jacobosiason7
1
PLUG POWER: Rapid awakening!The last few weeks have seen some stocks in the renewable or "clean" energy sector hit hard. The hype around hydrogen also seemed to be broken. After the price peak at the end of January, Plug Power slid by about 46 %. Since last Friday, however, the hydrogen company has awoken from its hibernation and gained around 45 %. Where do we go from here? Plug Power with a gap close and on it goes! Plug Power's share pleases all investors and so the rally has known only one direction for months. In the area of USD 69.50, however, the share experienced increased profit-taking in the context of the overall market weakness. This area can now be defined as a clear resistance level, which of course is no less attractive. With yesterday's gains, the share has in any case broken away from the gap it closed in January (gap close). Above this level, the share remains worth buying with a first target at USD 53.15 and then up to resistance at USD 69.50. A breakout above this should lead to renewed buying. A breakout above this level should arouse renewed buying interest on a broad front, so that an establishment above the round price mark of USD 70.00 is inevitable. When Plug Power's shares could ultimately reach triple digits will be assessed here in due course. On the other hand, another setback into the price gap from 6 to 7 January would be critical. In the course of this possible weakness, the price could fall below the USD 37.25 level. This could lead to further declines in the direction of USD 28.50 and lower. If you liked the analysis, we would be pleased if you liked or subscribed to it. By doing so, you support our work enormously! Notice: Despite careful analysis, Global Investa does not guarantee the content, timeliness, accuracy or completeness of the information provided. In particular, the information provided does not constitute investment advice, a recommendation to buy or investment brokerage and can in no way replace investor and investment advice from a professional investment advisor who takes into account the individual economic circumstances and the level of experience of the customer.
NASDAQ:PLUG
by Michael-Neubauer
PLUG | ABC correction ongoingHi all, so PLUG looks like it is currently in wave A of an ABC correction after a blowout top. The overall market is definitely helping with the downside. I'm sure these next few days will flush out a lot of froth in these names. - Price action broke down below what seemed a potentially bullish rising wedge, which had been forming for almost a month, signifying the start of the correction after the extremely strong move up in January; - This really feels like it trying to retrace back and fill the huge 37$ - 40$ gap up from early January; - PLUG's RSI hasn't been this low since March 2020 - should be on the lookout for bullish divergence with price for a turnaround I am still very bullish on the name, would love to grab more shares ~38$ if I can. Please comment your thoughts and good luck to all!
NASDAQ:PLUG
by InvestEmi
5