PLUG potential reversal for NASDAQ:PLUG by intelwize

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trendanalysis harmonicpatterns chartpattern

Two possible reversal zone to upside
1. $7.42 simple ABC target
2. Fib Retracement level of 0.618 ($6.37) and also previous peak (Feb 19, 2020) could offer support.

Comment: Plug needs to break $11.72 previous peak set on week of Mar 2014 to test further advancement towards 38.2 ($18.40) of previous swing low

Expect pull back or profit taking around $11.72

Comments

I am down 20% and have not sure what to do, hold through earnings or save whats lift of my money. Your charts made me more miserable

mbelasy

@mbelasy, at what price point did you buy? I can check long term strategy to see if it aligns

intelwize

@intelwize, Bought in 300 shares at 8.80

intelwize

@intelwize, I sold PLUG at 11 and willing to buy back in a dip. Do you think It is was the correct move? I love the company but wanted to book some profit. Thoughts

mbelasy

@mbelasy, I'm glad you came out on top at least a little on this trade, considering where you bought $9.55 I would think its a right move and position to buy again at low. However, if the price breaks $11.72, you might wonder if you made the right decision. That's just trading, your previous trade had too much risk. I'm sure there will be plenty of opportunity. I'll surely share my thoughts as in when it unfolds.

This is not what I was waiting for lol. I was expecting that PLUG will have a great earning report and move up 20%

mbelasy

@mbelasy, Sorry to that disappointed you, the pattern trajectory seems to align with the next earning report scheduled for Aug 6th. Your wish might come true lol

intelwize

@intelwize, 1400 shares at 9.55$ a shares