This is a volume-based analysis on Plug Power PLUG. The stock went parabolic (again) and had an impulse wave for the 7 trading sessions and reached 73.90 as 52W highest high. PLUG stock has a lot of” buzz” at the moment and it’s just resting before another wave to 82$ at the end of it. Now the PLUG is giving some gains back and closed on 60.14, but this is far from over. So the volume shows that we have a lot more upside. Volume: PLUG 3 months Avg volume per session: 40.66M PLUG volume surge -the beginning of impulse wave (1.7): 100M PLUG volume peak -day of 52W (1.13): 142M According to the volume, I set 3 targets: Target 1: stock can retreat to the 52$ line, and then converge 52.5$-60$ (Accumulation).
Target 2: Accumulation ends, stock rallies breakthrough 61$ to the 67$ line. Target 3: From 67.8$ to 72.5$ there is convergence again – the area needs to be tested. Target4: Break 74$ (h/h) and start a new cycle.
The stock has a target price of 85$, and it can easily happen, considering these market conditions but I think the stock will start moving much slower above the 70$ line, buyers will become more hesitant and PLUG will need to “park” there for a while.
All things considered, we are very bullish on the company and even 100$+ is achievable, all a question of how long you are willing to wait 😊
of all the charts on this site, i followed your recommendations. I am a novice investor. i bought 5200 shares after i watched this stock take a second dip Needless to say I made about $40,000 in the 3 days I bought it TYVM
FDGT_academy
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@ddallaswjr@ddallaswjr, wow , I am so happy it worked out for u and I appreciate the vote of confidence BUT please don’t do that again -when u enter a stock with 40k please do it through dollar cost averaging, don’t just buy one time with the whole amount. Also I strongly recommend you cash on some of the profits now and some later but cash out