Overview
PLUG is one of my favorite Stocks already since 2 years. While i dont really care about fundamentals, it is to mention that the German Government will put 8 trillion Euros into the field of hydrogen and as PLUG is one of the big players in that particular field - its worth to mention. Specially since the last time similiar news came out (in November...
Yo!
not much to say here.. the possible outcomes you can see on the charts
Dont forget that the stochastics shows overbought!
Goodluck,
t347.
NASDAQ:PLUG
I hope we will see a inverse HS.
If this was Wave 1 and Wave 2 is for the right Shoulder then Wave 3 could go to 2.618 because otherwise Wave 3 is to Short.
Buy = 25$ - 21€
Sell = 48$ - 39€
PLUG has been in an aggressive downward move this year.
The chart shows two failed attempts to get through the $29.60 resistance level. It is now attempting a 3rd and I'm bullish. Why?
The price action shows the aggressive downward move, a breakout from this move around $26.30 and a slight rotation of the angles indicating we may have found a bottom and...
$PLUG retraced 70% from it's all time highs during this 2021 - Now looking at it's price action its seems that it has bottomed already - wait for a higher low and a break above $30 and the 200 MA to confirm IH&S pattern. Feel free to long above those levels when this happens. Earnings might be the catalyst for the break. I will keep an eye on this name.
I believe that the reaction to PLUG's earnings will create a break from this ascending triangle either the downside or the upside. Whichever direction seems fit I will either hold my Leaps that I'm in or I will hedge them with puts. I am fine with either direction but I see a break will happen.
Closing in on trading around the VPOC. Resistance at $30. Would love to see a break and retest for a healthy reversal. If not, expect a move back down towards support and an Inverse H&S to form. Depending on what happens at $30 we might see a reversal.
