PlugWhat originally was shaping up to be a pennant, turned out to be a “fake” set up. At this point this starting to look more like a double top with MACD divergence. Staying away from this stock for the time being.
PLUN trade ideas
Potential Top in PLUGBefore I start, I want to make clear I am not a permabear. I've been long PLUG, FCEL, and BLDP at varying times of this bull run via commons and calls. They've been great. But this chart pattern has the look of a top. For candlestick nerds (like me) out there, this has the potential for a Dumpling Top. PLUG exploded 100%+ in six trading days (on a closing basis) and has since put in a bunch of relatively small candles. An attempt higher on 01/26 on lower volume unsurprisingly failed. The following day it gapped lower and closed on the lows on higher volume. In order to confirm a Dumpling Top, a gap down is required. And looking at how the market closed Friday and the way the crypto markets are trading currently, I wouldn't be surprised if we get that gap down on Monday.
This could certainly morph into a high tight flag setup, but I think the current conditions warrant caution. PLUG closed Friday below the 10-day EMA. I'm currently long UVXY, TWM, and PLUG puts. Good luck next week!
Plug Power Has Formed a Descending TrianglePlug power has stuck out to me for a long time now. With all of the hype of the energy stocks and how Joe Biden will influence these types of markets, I decided to analyze this stock. Since Plug Power has formed a descending triangle, and it has just recently bounced of of its support, in theory, it would go up. Our price target would be about 74 dollars by the end of the week.
PLUGPlug provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe. The company garnered an abundance of attention from investors in 2020 for its GenDrive system, a hydrogen-fueled PEM fuel cell system that provides power to material handling electric vehicles.
Trading in a range.
Looking for a breakout of the range on high volume.
1. Leading sector
2. Revenue Increasing
3. Room for institutional buying
PLUG POWERGuys this is a very promising company in the long run, but it is overbought and therefore we could see a sale in the short term.
The main electric car etf fell 5% and this is one of the companies within the etf.
Correction till area 43$ possibleNegative divergence in momentum of PLUG points to a correction till 43$.
Removed my stop last minute - I'd rather plan oneI had a stop set that never hit after my last posts. This morning we're going to pull back past my stop, so I removed it before market opens. Still plenty buyers to bring the stock back up after the dip to consider my exit point.
PLUG beautiful Cup & Handle in place, next one to take off? Chart is our friend!
We have a Bull flag forming with a Cup & Handle,
I could see this rip trough the first resistance around $80
Recent headlines from Reuters helping the ODS:
* PLUG POWER EXCEEDS 2020 GUIDANCE AND RAISES TARGETS FOR 2021 AND 2024
* PLUG POWER INC - RAISING 2021 ESTIMATES FOR GROSS BILLINGS TO $475 MILLION
* PLUG POWER INC - INCREASING 2024 GROSS BILLINGS TARGET BY MORE THAN 40% TO $1.7 BILLION
Source text for Eikon: ID:nGNX5ypkH Further company coverage: PLUG
((Reuters.Briefs@thomsonreuters.com;))
Buckle up!
Plug Power Short?Details and notes in chart! Let's see how it goes!
Let me know what you think!
Also will be looking at fuel cell and blink charging.
Still solidly in the upward channel, I've updated my PLUG stopOK so Jim Cramer thank you - though we still have a ways to go to build trust. :-) My mom's happy however that I told her about PLUG before Jim plugged it.
Anyways, we continue moving up and my stop as well I've reset to 63. This is a highly speculative play at this point, and the stock is due for some reality.
Jim Cramer plugs plug, time to exit?I've learned the hard way that when Jim Cramer calls a stock, watch out! I am setting a tight stop right below the current channel.
What you do with your stock and Jim Cramer's advice is your own business obviously.
PLUG Risky PennantPlug formed a pennat/flag on 60 mins chart. Price is looking to retest $60-62 area by mid week. Long entry looks promising at 61 with $58.5 stop loss and $106 target.
That’s 1/18 tentative risk/ reward, but company is extremely overpriced already and doesn’t sound like good investment at these valuations (or at all). Latest parabolic move could propel price higher in the short term, but have to watch it closely. If price drops below $58.5, stop loss could be filled at much lower price point due to high volatility; it would only make this set up riskier.
This is not a financial, investment, or trading advise.
Plug Power outbreak of trinagel!Plug Power is still bullish and can go up to 750!
The retest will probably com so short term sell and then after retest get back in!
Its not a scam buy now!
Bye your analyst Henrik M.S
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.
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
