I have been monitoring price movements on FCEL for the last couple days, I had three models in which direction it could go. Volume is looking good and I expect it to hit 1.00 by the end of the week as long as it stays on track and no negative news comes out. What a turn around from .22. Steady climb.
Ridiculous amount of day trading going on in this stock, float is 125M shares, that was the volume the past few days which means people are roundtripping, because there's no way every shareholder sold.
hungry_hippo
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Is this the turnaround or is it going to tank back to nothing? Market cap is still only 255M, 1/6 of BLDP with more revenue. Similar valuation puts this stock at $5.
I dunno, I think I'm just going to hold this instead of market timing it, in at $.55 cost average, doubling up if it heads below $.40. Chart pattern today looked like a reversal, exhaustion gap and doji, but you never know. Volume would indicate it's daytraders pumping this, so it may collapse as soon as people lose interest.
Krzyvern
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@hungry_hippo, with the PR and deals they are making I think they are in a much better position than they were two months ago. I see it falling back a little but I don’t think we will see .22 like a couple weeks ago for a while if ever again. This is probably one of the hardest stocks for me to read because it has so much up and downs. I do think it has been oversold in the last couple days and it will have a cool down period. I am holding my positions for the long run and if it does fall back to the .40 I will gobble this back up. Fuel Cell industry has a bright future.
hungry_hippo
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@Krzyvern, yeah same here. Holding for now, nevermind the dips. The company has a new CEO, the old one couldn't make a profit to save his life.