ITM Power recently broke the downtrend and is on the way to confrim a new Uptrend. If we go over the last High of the downtrend (Blue Line) the new Uptrend is confirmed and ITM is on a bullish way again.
No financial advice. I am not a professional.
Hello Traders, here is a full analysis for this asset. The entry will be taken only, if all rules of your trading plan are satisfied.
Therefore I suggest you keep this pair on your watchlist and see if all of your rules are satisfied.
Leave your thoughts in the comment section, I will reply to every single one of them.
P.S. Tell me which asset you want me to...
On Fundamentals, in my view ITM is currently well above fair value, on 28th Jan 21 they released an earnings update for p.end 31 Oct 20, which states EBITDA loss of £10.4mln but having an mcap of over £3.2bln! (that's right!)
I understand the hype of Hydrogen, but this is just insane is it not? Let's discuss if you think otherwise.
Anyway, looking at the graph...
ITM Power's stock is really really hot, right?
RSI at 94,7 - Monthly Chart!
The share price has reached the annual resistance level R7
and is currently still above the R6.
Maybe the stock will grow in this valuation but not with my money. Maybe your money?
Best regards from Hannover
Stefan Bode
ITM broke its resistance of 25.5p today
Rise based on "Launch of Large Scale HRS" and a "Pipeline Increase" news release
It also broke its weekly 200EMA
This could signal a change in the trend?
