Since the high at 75$ in February 2021, Plug has been in a Downtrend. The Price has been moving inside a Falling Wedge, which is usually a bullish Pattern. The Quarter Results that got published two weeks ago, showed that Plug Power increased their loss, after the Announcement the Price, in the following days, went down by almost 30%. The Wedge has a higher Probability of breaking to the upside and has a bullish Target of 75$, which would be a whopping 800% (!).
I personally dont expect Plug Power to rise until early 2024, because their projects are delayed, their Margin is bad and they need money, also the Interest te could rise further which is bad for Tech-Stocks like Plug Power.
I will update you when we got a Breakout!
Have a nice Day!
HenrikDaCrypto
I personally dont expect Plug Power to rise until early 2024, because their projects are delayed, their Margin is bad and they need money, also the Interest te could rise further which is bad for Tech-Stocks like Plug Power.
I will update you when we got a Breakout!
Have a nice Day!
HenrikDaCrypto