PLUG trade ideas
$PLUG Bullish candlesticks pattern targeting 15.5 to 16Very nice bullish setup for higher targets near 15.5-16 . Small gap at 11.9 which can be Stop loss point too. Plug Power, Inc. provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses. The company was founded by George C. McNamee and Larry G. Garberding on June 27, 1997 and is headquartered in Latham, NY.
Keep PLUGging away!Plug has been a great trade with a "Go" trend established in April. There have been some consolidations but the trend hasn't been broken and we have seen several low risk entries identified by GoNoGo Charts displayed with green circles.
On September 30th, we saw the latest of these, just before the most recent price surge. This surge also has pushed price to new highs. The GoNoGo Oscillator has rallied back above zero also and so the overall technical environment for PLUG remains very strong.
PLUG - Impulse to CorrectivePLUG has finished it's latest bull-run and is in the midst of a much larger correctional wave. Just my notes based off the wave-count I see.
There could be a minor ABC corrective wave that's already finished, for this reason the price point of invalidation is: 13.55
Looking for a pullback to the $10-$9 range.