I think plug is oversold and is steadily increasing revenues. It's current bar formation, position, and volume makes it super attractive with a low risk and high reward profile. Have an exit strategy in case things don't work out and keep your losses small.
Trade active
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I'm in
Trade active
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Still wheeling. $2.50 stop loss, might keep lowering this depending on how long it stays above $3 and how many shares I accumulated by the time it reaches stoploss.
Trade active
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Keepin it steady. Theta gang!
Trade closed: stop reached
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welp. I gotta quit while I'm ahead. At this rate I'll break even soon so I'm taking the little bit of profit I made wheeling and moving on. I have an alert set at $5 to reenter. See you in the future
Are there any concerns that Plug has missed it revenue targets every quarter and has posted losses in the hundreds of thousands every quarter, often missing the earnings estimates by up to 200%? This is not a profitable business and since losses are increasing faster then revenue, is there something that tells you this company is turning around anytime soon?
Needlez33
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@soleary13 very good points but I actually address this near the end of the video. I will add this: the energy demands will triple in the near future so just being in this sector is going to be profitable and personally I don't see what a bear has to look forward to, a one point drop? I like the premiums in selling these option and I'm looking forward to add shares with them
soleary13
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@Needlez33, Thanks for the quick, thoughtful response. I totally agree with your premise on demand in the energy sector. Not a big fan of clean energy in the short term, hard for companies to get to profitability. The one short term opportunity with Clean may be govt subsidizing this segment, which could lead to short term, low cost/no cost, capital injections causing stock spikes with potential for scalping opportunities, which Plug may be set up to advantage. I just try to stay away from companies that burn capital, personal pref. However, if you are less profit risk averse, given the stars aligning, you can make big profits. It is a low dollar stock, so it certainly lends itself to a low cost, risk on strategy. I'll be watching. Good Luck and again, thanks for the response and the insights.
Needlez33
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@soleary13 I love talking to smart people, take care
v3kt0r
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I’m with @Needlez33. Low $ stock, macro reversal in play, so very good RR.
CatManEA
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definitely looks like the stock has a brighter tomorrow! good post
Needlez33
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@CatManEA, ty for the kind words and yeah it look like great potential
bib3kpandey
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Great one sir, also try looking on the log chart for long term.interesting pattern to say the least (on the weekly or higher time frames)
Needlez33
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@bib3kpandey I'll definitely try the log chart and see what I learn from there, thx for the tip 😊 🙏
bib3kpandey
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@Needlez33, on the log if you connect the 2013 and 2018 low point (while extending the right line) you will see a breakdown till our current level. But if the line is retested 6.2 could be achievable. Let me know what you think. Also I remember you saying institutional buyers start buying around $500 million revenue. Any reference or source on that cause i want to study on this more. thanks.