PLUG over 70.00Beautiful wedge forming here, my guess is that it takes a day or two for price to close right around this level, and then a big break over. Of course this could bust through with conviction on high volume in one day, but more likely that it takes a day or two to set up. Can use the opportunity to position with long dated calls or shares, I think there’s a high likelihood this breaks to the upside. The wedge is a reliable pattern given then strong run up, and EVs are a hot sector likely to continue rapid growth.
PLUG trade ideas
PLUG 1 hour BULL CHANNEL PLAYPlug is hitting the bottom of a channel right now.
It will bounce off bottom hourly red channel that and hit Target 1🎯in 2-3 days by lets say... 3/18/21
Then, I hope it sees more volume and hits Target 2🎯, the top of the channel.
RSI (not pictured) is looking low to support bull move.
Counterpoint to myself
-Volume currently is meh.
$plug - consolidating, flagging shout out to stockonomy ( www.tradingview.com ) for bringing this ticker to my attention.
long once we get above the point of control (orange dotted line) where the accumulation has been occurring,
also note hidden bullish divergence + declining volume.
ev seems like it wants to get hot again.
PLUGPLUG 1-3 Week Horizon
Reward 40% / Risk 7%
Seem like price action has been consolidating, forming a symmetrical triangle which means it could go up or down. My bias is on a bullish move because; the sideways price action was after a bullish move. Stochastics on the daily is at an oversold level, 21ema and 61.6 support seems to be holding.
Entry at the buy zone with stop loss just below support at 57.18 (7.5%) and mid target 86.68 (40.2%).
Disclaimer
I am not a registered investment advisor and do not offer investment advice and recommendation. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for, information and entrainment purposes only. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.
$PLUG - range bound with bull pennantI think this is the 3rd time I am publishing this ticker.
It really needs to close above $68 and has not yet done so.
Nevertheless, I grabbed options with April expiration, so i have room to be wrong
Buyer be ware. If it holds $68 on the close, the predictions is that goes to $85 quickly.
BUY $PLUG PT1 72 PT2 80 SL 60 Rationale
Hydrogen Companies are hot right now
Secondary done at $65 this is now a key level
Volume shelf at $65, Price is current retesting this as a floor
Option interest for Feb 12th is 60% calls
Crazy IV on options, potential covered call play
Current Consolidation Range volume has decreased, the price is getting ready to move rapidly.
Plug looks like a sell to me.I have entered a sell on Plug. See chart. The publications from Lord Skin are not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment.