FCEL slow decline. The exchange rate moves in a second downward wave of a triple wave structure. A correction can be made by a H1 ATR axis. Then the third downward wave structure can be built. Its target price is 0.76 usd.
FuelCell Energy, Inc. develops and commercializes fuel cell power plants for electric power generation. The Company also has contracts to develop its fuel cells for use of alternative fuels and for marine transportation applications. FuelCell has research and development contracts with government and industry.
The coming year is very important for fuel cell...
Despite the selloff it held strong compared to other stocks. It broke down the pennant shape but still held strong at its support and closed above it testing the resistance.
Weekly MACD chart shows strong bullish convergences. Daily chart mimics the trend, plus a positive earnings surprise last week.
Will go long at $2.10 with a $3 price target and $1.80 stop loss. Reward/Risk ratio of 3.
Seems forming a fallen angel type for formation. Showing upward momentum. Moneyflow is accumulating & volume increasing as well. However we would like to wait for trader confirmation.
You can check detailed analysis on FCEL in the trading room/ Executive summary link here-
www.youtube.com
Time Span- 4:45"
Trade Status: Pending
$FCEL looks bullish as it is in a descending triangle/wedge pttn. & could b/o of the pttn. to higher levels.....needs to break 2.60 level w/ volume to confirm a possible reversal w/ tgt.#1=2.80 and tgt.#2=3.00
I find FCEL to be reasonably priced in the 1.3-1.35 P/R range. Not worried about negative earnings right now as long as revenue stream can continue to grow.
Looking for breakout this week. No down trendline resistance. Like for continuation play this week. to 1.35, 1.40, 1.50, 1.63 targets. Nice strong volume Friday. Stochs and MACD turning up strong.
