FCEL trade ideas
[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.
FCEL - perfect shiftREASON :
break trend lines
breakout resistance 17.60
TRADING PLAN
EP 17.00
SL 15.00
TP 25.00
RRR - 1 : 4
CUT LOSS 10%
TAKE PROFIT 45%
H&S completed, didn’t break necklineDidn’t break neckline so may possibly reverse and head up to test resistance
Looking for sideways trade Earning were not surprising and the resulting pre-market price actions aren't as well, even so, I'm looking for sideways price action within the white channel
Not financial advice
Possible swing with momentum IMO: possible upside coming weeks if momentum stays with higher highs. Currently, I do not have any positions just on the sidelines waiting for strength for a break at ~$17
Not financial advice
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!
Two scenariosI can see FCEL either heading back down to complete a head and shoulders, or heading up to resistance (price target ~$20.
$FCEL looking for another run here.$FCEL looking good here, held support. Very nice setup for the next leg run up to the next target area of 24.
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
Fueling up for $20s?Great move by $FCEL during last few weeks. Having completed wave-2, stock is currently in wave-3 that can lead the price to $20-22 range.
What do you guys think?
Disclaimer: This is not a financial advise. Please make your independent decisions while making an investment.
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 :)
Who is with me? FCEL (Target $24.24)Bearish Divergence on RSI, first point to be sure 16.70 - next one is MOON.
FCEL Pulling backFCEL a great company coming into 2021 and the Biden administration. We are seeing a pullback and could see it run the coming week before or after Biden inauguration.
Targeting FCEL Entry: Head & Shoulders Completion$FCEL Has had a rough last few days in the market. It could complete a head and shoulders formation in the chart with a retrace to the region highlighted @ 15.95 per share. That is the targeted entry point; reversal would put the high entry more at 17.1, which it just tested and found very little support. FCEL is currently sub-17, but the ideal entry happens just under 16; for this trader, anyway.
Now, we wait.
If you dig into this trader's folder, you will find 11 ideas chronicling FCEL before its tremendous breakout.
Not enough patience was exercised, and it was cut loose around $2.72 per share.
That, now, seems comical: BUT THERE IS POTENTIAL FOR MAJOR GROWTH HERE. This is a form of technology that needs some ironing out, but the potential is great enough to justify FCEL's meteoric rise the past several months.
Happy times and green acres for all?
-BDR
Post Note: I have attached several of my first looks at FCEL. It fulfilled every dream, but it just took so long and was so resistant to doing it....that the profit was sheerly missed...the first time around?!
Possible H&S formingIt looks like the price is heading back towards the black support line. May get a leg down before rebounding
Re-enter white channel - consolidation IMO: critical support at ~$15.05 is unfortunately what the analyst has done to the stock but in hindsight, it was a much-needed consolidation from the run up over the last few days
As indicated we entering the white channel again for sideways trading once the "sell the news" is over
Disclaimer - not financial advice
