FCEL - refueling or reverting
Updated
Hey investing neighbors,
Let us take a look at FCEL and figure out if now is a good time to bail, invest, speculate, or hedge current positions. Over the last several days FCEL has tested prior support levels all the way down to the 11.30s on the weekly time frame and tested upward resistance at about 15.58. That is one heck of a swing!
For long term investors, speculators, and interested parties the important support level is on the monthly time frame of 14.93 which FCEL punched through and has now retraced under at 14.35. That .60 level should give a good upward trajectory for a test higher and of course back to 15.58 and higher. FCEL should have made it back to the 16.80 level and since it did not it instantly tried to retest lower support/resistance on that monthly timeframe.
The over all sentiment seems to currently favor longs but they should be cautious and keep a tight eye on that monthly level of 14.93 and psychological upward levels of 14.50 and above. A break below 14 could signal trouble. FCEL still has plenty of a possibility higher especially considering that the Biden administration is pushing clean energy which FCEL should benefit.
It is also worth noting that FCEL has a tremendously forward 2021 picking up on 2020 momentum as a whole and despite a disappointing Q1 earnings coupled with a downward trend on the technology sector is making positive movements forward and should benefit from American clean energy initiatives.
It would be prudent to be cautious though that sentiment could turn negative and FCEL has a clear downward window back to 13.12 and then 11.30. For accumulating a position in FCEL could be beneficial on this price levels but there should be either a clear push back above the 14.93 level and a sustainable break through 15.58 or FCEL could easily retest lower support. Long term investing likely would be ideal for sustainable moves upward from current price levels.
For entertainment and education purposes only. Not financial advice. Want to comment? Reach me below or over on our new Reddit group /apesinvest
.
Let us take a look at FCEL and figure out if now is a good time to bail, invest, speculate, or hedge current positions. Over the last several days FCEL has tested prior support levels all the way down to the 11.30s on the weekly time frame and tested upward resistance at about 15.58. That is one heck of a swing!
For long term investors, speculators, and interested parties the important support level is on the monthly time frame of 14.93 which FCEL punched through and has now retraced under at 14.35. That .60 level should give a good upward trajectory for a test higher and of course back to 15.58 and higher. FCEL should have made it back to the 16.80 level and since it did not it instantly tried to retest lower support/resistance on that monthly timeframe.
The over all sentiment seems to currently favor longs but they should be cautious and keep a tight eye on that monthly level of 14.93 and psychological upward levels of 14.50 and above. A break below 14 could signal trouble. FCEL still has plenty of a possibility higher especially considering that the Biden administration is pushing clean energy which FCEL should benefit.
It is also worth noting that FCEL has a tremendously forward 2021 picking up on 2020 momentum as a whole and despite a disappointing Q1 earnings coupled with a downward trend on the technology sector is making positive movements forward and should benefit from American clean energy initiatives.
It would be prudent to be cautious though that sentiment could turn negative and FCEL has a clear downward window back to 13.12 and then 11.30. For accumulating a position in FCEL could be beneficial on this price levels but there should be either a clear push back above the 14.93 level and a sustainable break through 15.58 or FCEL could easily retest lower support. Long term investing likely would be ideal for sustainable moves upward from current price levels.
For entertainment and education purposes only. Not financial advice. Want to comment? Reach me below or over on our new Reddit group /apesinvest
.
Note
Notice that the failure to retest that 14.92 on the last few days means it is likely consolidating around 13.80. It may just bounce between 13.11ish and 14.92 before making a direction either way back above that 14.92 level or below 13.11ish. It still seems to trading in range until it makes a definitive directional play upward.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.