clean energy had a nice week and plug individual price upgrades help move the stock but is the reversal really here? Here are my 3 reasons I'm not convince of plugs comeback
1. This stock is severely shorted with a 20% short float . Anything over 10% is to high.
2. Still below 200ma (Gold line) Got rejected thursday.
3. Needs to break above that downtrend (Whiteline)
There is some bullish technical views.
1. they broke through resistance on the RSI which I highlighted
2. Macd is is doing a golden cross
3. And on the weekly chart they finish last week with A Hammer candlestick which is huge for a reversal clues.
I'd wait for a move above the 200ma and downtrend which is about in the 30$ range. if it gets rejected Ted short it!
50ma - purple line
100ma - blue line
Good luck, lose your opinion and not your money
1. This stock is severely shorted with a 20% short float . Anything over 10% is to high.
2. Still below 200ma (Gold line) Got rejected thursday.
3. Needs to break above that downtrend (Whiteline)
There is some bullish technical views.
1. they broke through resistance on the RSI which I highlighted
2. Macd is is doing a golden cross
3. And on the weekly chart they finish last week with A Hammer candlestick which is huge for a reversal clues.
I'd wait for a move above the 200ma and downtrend which is about in the 30$ range. if it gets rejected Ted short it!
50ma - purple line
100ma - blue line
Good luck, lose your opinion and not your money