FUELCELL ENERGY Post DailyHello traders, FUELCELL ENERGY is in a bullish configuration with low traded buy volume and marubozu accompanied by leg. Looking at the TIMEFRAME M1 we see a water-holder candle with a large negotiated sales volume, it has come to bounce on the comfort zone to test it. And starting on the highest of the bollinger there is a great chance of breaking out the price afterwards coming on the last previous higher. To fill a bearish breakout gap and land on the low of the candle.
We can see resistance in the (View of TIMEFRAME H4) with a possible excess (on TIMEFRAME H1) to land on the panic front. And join the last point (on the MULTI TIMEFRAME), No buying force to test the intermediate median of ANDREWS PITCHFORK.
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FCEL trade ideas
FCEL a LONG from ages ago; Target 24.5 $FCEL is a position this trader was too soon on. That disregarded, a completion of current wave formation trends suggests a potential sell-point near 24.5 per share.
The outline of several correction waves eventually resulted in FCEL breaking out late in 2020. There is plenty of room for this to run, and the exit point near 24 would produce a nearly 50% ROI on the swing. That said, it is a mere suggestion: The long could potentially be richer than chocolate cake if it's held on to.
Do your own due diligence, amigos, but the technology behind FCEL is receiving a revived interest. FCEL was once an IPO hype because enthusiasm for hydrogen fuel cells was stronger at that time, but $FCEL returning to a sizeable fraction of that glory is what has so many investors intrigued with this company.
Best of luck to any and all F-CELLING IT UP!
-BDR
Post-note: The attached idea is to show how early this trader was pumping FCEL. It was too early, admittedly.
FCEL:NASDAQ - FUELCELL ENERGY - Hype stock running hardFCEL is one of the stocks with a lot of "enthusiasm" behind it at the moment. Had a big pull back after a strong rally so worth seeing if it runs again after the drop. Being under $10 will give it some attention. I'd suggest set a stop order at $8 in case it rallies through there and keep a tight stop on it if it runs. Worth keeping an eye on as a speculative short-term trade just for the fun of it.
[For Discussion] FCEL or PLUG? There are many correlated stocks in the market.
E.g. FCEL and PLUG - the resemblance is even more obvious in the Min Chart.
In this case, which one will you focus on? and why? ------- Please share your opinions so that we are learn together :)
I will either Long FCEL purely cause it's more affordable or Short PLUG.
Note: My brokerage don't allow short selling.
Room for Downward Retracement after EarningsFCEL saw impressive growth from the beginning of November, and very briefly tested a previous support/resistance zone (from 2017). I'm skeptical as to how much further upside potential exists with FCEL in the short-term. I actually found a really interesting article written in December which analyzed FCEL's profitability in comparison to it's recent price movement. (Hake, Mark R. "Fuelcell Energy May Never Be Profitable, But It's Stock is Still Up Big.") -Feel free to Google that title-
In it, the following excerpt was used from FCEL's 10-Q SEC filing (for the period ending July 31, 2020.)
“…We have not been profitable since our year ended October 31, 1997. We expect to continue to incur net losses and generate negative cash flows until we can produce sufficient revenues and margins to cover our costs. We may never become profitable. Even if we do achieve profitability, we may be unable to sustain or increase our profitability in the future.”(Hake, Mark R. "Fuelcell Energy May Never Be Profitable, But It's Stock is Still Up Big.")
While PLUG has released important news recently regarding it's partnership with Renault and the $1.5 billion deal with the SK Group, FCEL's price seems to have been stimulated by speculation about the renewable energy sector. Additionally, JP Morgan downgraded FCEL, reasoning that the stock is currently overpriced.
With earnings happening tomorrow, I am expecting that price action will descend down towards the 50EMA / .382 retracement ($ 13.50)(Shown on the chart are Fibonacci retracement levels from the first week of November). Alternatively, if price can continue higher, there is still the support/resistance zone near $20 which could prove to be an important resistance zone.
Comments are always welcomed!
FCEL Breakout Stock Alert UpdateBREAKOUT STOCK ALERT UPDATE
$FCEL - FuelCell Energy, Inc. - Common Stock
Initial Alert Price: $8.51
Price High: $20.94
% Gains/Losses: 146.06%
(+113% More Than Expected)
Potential Stop Loss: $19.893
#Breakout #Stocks #Trading #Investing #Alerts #StockMarket #Daily #News #Today
breakout back above the top trendline resistance next week?! mmmnice breakout from the trend channel earlier!! we should see the rsi curl back to the upside now / another breakout bast the top trendline resistance next week imo. target 18-20 before a pullback. goodluck, leave a like and follow if you enjoy my ideas :)