Hello fellow traders and investors, FCEL and many other companies had tremendous increases in the stock price. The growth only came from hype and now these stocks remain very overvalued. As you can see on the chart there is a grey box around the 17.50 to 30$ range, in 2017 and 2018 FCEL stock grew a lot and consolidated in that range. I'm wondering if this will all happen again.
Technicals:
The Macd is oversold
The EMA's indicate that FCEL is still in a downtrend
When To Buy:
When the EMA's crossover
When the Macd crosses its EMA
NOTE: I don't like trade setups that are based solely on hype and that are very overvalued however if it meets your criteria add it to your watchlist and follow up with it.
I hope you enjoyed this quick analysis and many more to come. If you enjoyed please leave a like and follow.