PLUG trade ideas
PLUG- Long To Start & Then Short To End!!From 4 hour chart of PLUG- tomorrow's trading will initially go up to in between $1.53 to $1.56, then look LEFT on chart. This is a resistance area since 11/2016 (November). On lower either intra daily or 1 mn time frames, will be going long or with TREND beginning of trading, but when price reversal zone noted above (orange area on chart) is violated by PA & RSI indicator below (red line) is broken, will be looking for bears/sell or put trades until support level of $1.36 (purple line).
This is my opinion, on tomorrow's trading from my research and looking at big to small picture. I used this 4 hr chart related to showing resistance to left of current price action. Trade at your own risk & understand support and resistance levels. Price action is king & using your eyes/brain.
Bull Run? ? Word on the wire is that there is a BIG deal coming through for PLUG, Walmart, then Amazon and also China is planning on using PLUG cells for the RE makeover they are going through. They recently got out of debt and appear to be moving forward. Curious to know your thoughts, I can't find any contriadicting research. All stories seem to validate.
Falling Wedge & Improved Outlook for $PLUGNASDAQ:PLUG is a company I've had my eye on for some time. Their share price has plummeted over the last few years as a result of poor earnings reports & over-ambitious revenue expectations that fell embarrassingly short.
However, over the past few months they appear to have improved revenue expectations and added some great clients, including:
NYSE:TGT & NYSE:HD - seekingalpha.com
NYSE:WMT - seekingalpha.com
NYSE:PG - news.pg.com
Full List - www.plugpower.com & www.plugpower.com
Currently I'm long from $2.52, $1.60 & $1.72 and plan to hold these positions very long-term.
Plug power forming multiple XABCD patternsPlug power looks to be forming both a batwing and gartley XABCD pattern. It is currently in the bullish direction after forming an engulfing bullish line and a bullish 3-method formation on the .236 point, which it appears to be confirming with a bullish movement. I expect this to go to either $7 - 7.35 (high chance) or around $10.30 (low chance), at which point, both will result in a bearish trend.