Only placing two trades for tonight's open.
First one will be shorting The Gap
Short a naked call at 38 strike for $1.04, going to mange it for 45 days.
Or close it when it goes above $1.22
Lastly I'm going to buy PLUG as a ratio spread
Short two contracts at the 26 strike and brought the 28 strike for $1.27.
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...
Dollar Cost Averaging on the way down
plus another nice limit order at 13 bucks
this is a nice hedge for Tesla
since there is uncertainty of
how electric cars will run in mass adoption
PLUG may have bounced off of the $26 support level and be heading toward $35 resistance. Either the $35 resistance or the .236 at $37 will likely cause it to go back and confirm the $26 support. That's of course assuming it rises that far before confirming. I won't open a call until it confirms $26 support.
Whats up guys, just wanted to share my opinion on the potential rebound of PLUG and highlight a reversal in their 2 month downtrend. Not a professional and fairly new to charting, take it easy lol.
XABC is a butterfly harmonic pattern:
AB=0.78 XA
BC=0.38 AB
tp1=1.6 BC=$62 *reached*
tp2=1.27 XA=$134
tp3=2.24 BC=$325
other targets with X345 cypher or shark possibility:
tp4=1.13 3-4=$94
tp5=1.41 3-4=$155 *more likely*
tp6=1.6 3-4=$220
since other targets of butterfly are higher than $75 the price zone of could not be dangerous, but be careful at this price zone.
Hi Traders,
Let me know what you think about this count.
My opinion for entire EV market is we could be near the local bottom and preparing for another growth wave.
Lets se, trade safe and use Stop-loses. ;)
Scanning through PLUG today to try to find potential direction and I see some clear r.s.i. breakouts and re-taps of its previous r.s.i. resistance. I'm already long PLUG in June contracts as of Friday. We could see a nice push to 30 if these hold. Large call option sweeps have been showing on our bots, as well as large dark pool orders.
PLUG is arguably the leader of hydrogen fuel cell company. However, there are several concerns that need to be addressed.
#1. Hydrogen clean energy is still at the proof-of-concept stage and the natural gas industry seems to be its biggest advocate. Hydrogen gas is emission-free only if it's made by electrolysis from renewable energy.
#2. Currently, major...
Plug is in oversold territory. A bounce towards high 30s and even low 40s is due. High 24s/25s are good entry points. Manage risk accordingly. Good luck!
