![]() I’m not bold enough to call PLUG The “Tesla of Hydrogen” as InvestorPlace’s Luke Lango has. The thing is Plug Power is building an increasingly sustainable business for an alternative “green hydrogen” fuel source and economy whose time has finally arrived. And surging natural gas prices, which drive much of today’s hydrogen production, are making those red-line items more of an eyesore.īut those are shorter-term headwinds for PLUG. Tickerįirst, let’s get the ugly stuff out of the way. Let’s look at the reasons why a more sustainable bull market in PLUG stock is likely to emerge and how to buy into that potential more smartly. But it’s time to see the opportunity and look past the fear. From supply chain snarls to inflation at multi-decade highs and hawkish, behind the eight ball central bankers trying to reign in prices while avoiding a recession, it has been a tough environment.Īnd those challenges have been particularly harder for smaller growth narratives, even market leaders like Plug Power whose shares remain down 41% year-to-date and nearly 80% from their multi-decade peak of $75.49 in late January 2021. It’s no secret Wall Street has been a wreck for most stocks in 2022. PLUG stock is up 9% compared the tech-heavy Nasdaq’s gain of 3%. Systematic retrieval of data or other content from, whether to create or compile, post to other websites, directly or indirectly, as text, video or audio, a collection, compilation, database or directory, is prohibited absent our express prior written consent.The market is rallying for a second straight day and shares of hydrogen champion Plug Power (NASDAQ: PLUG) are enjoying an outsized lift. Any other use, including for any commercial purposes, is strictly prohibited without our express prior written consent. You may use and the contents contained in solely for your own individual non-commercial and informational purposes only. Liable for your own investment decisions and agree to the Users should not base their investment decision upon. is a research service that provides financial data and technical analysis of publicly traded stocks.Īll users should speak with their financial advisor before buying or selling any securities. We, therefore, hold a negative evaluation of this stock. Plug holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. Our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance. Since the stock is closer to the support from accumulated volume at $16.57 (3.55%) If Plug Power takes out the full calculated possible swing range there will be an estimated 15.73% move between the lowest and the highest trading price during the day. Which gives a possible trading interval of +/-$1.35 (+/-7.87%) up or down from last closing price. Trading Expectations For The Upcoming Trading Day Of Tuesday 5thįor the upcoming trading day on Tuesday 5th we expect Plug Power to open at $17.11, and during day (based on 14 day Average True Range), We hold a negative evaluation for this stock. For the last week, the stock has had a daily average volatility of 6.65%. During the last day, the stock moved $0.79 between high and low, or 4.71%. This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". Plug finds support from accumulated volume at $16.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested. Further fall is indicated until a new bottom pivot has been found. A sell signal was issued from a pivot top point on Friday, May 27, 2022, and so far it has fallen -9.86%. Some negative signals were issued as well, and these may have some influence on the near short-term development. This causes a divergence between volume and price and it may be an early warning. ![]() Volume fell during the last trading day despite gaining prices. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. On a fall, the stock will find some support from the long-term average at approximately $16.64. On further gains, the stock will meet resistance from the short-term moving average at approximately $17.35. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. The Plug stock holds a sell signal from the short-term moving average at the same time, however, there is a buy signal from the long-term average.
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