PLUN trade ideas
$PLUG | Bullish Channel & Key Structure$PLUG is trading within a bullish rising channel. Price just pulled back to test the channel support as well as the key horizontal structure level at $30. If market structure holds I expect a bounce and continuation to the upside.
Initial Confirmation above $32.50
Initial Targets: $34.80 | $38
Let me know what you think in the comments. Please leave a like if you agree with my analysis! 👍🏽
Plug Power back on the trend linePLUG is a long term play, tesla hedge (10 Years)
As long as PLUG is on this trend I will continue to dollar cost average daily
- for beginners this literally means start off slow on cashapp with $10/day
- for advance traders DCAing at levels you feel comfortable buying and buying BIG #getwrecked
If it dips below the parallel stop DCA and find another trade u might want to participate in
IF it rises above feel free to take profit and buy other assets or go on amazon and treat yo self
trading is about YOU and not your personal life finance
communities make it about the community
never feel ashamed to profit off a great trade
people that bully are those that have lost and have broken their own rules time and time again
#notonmighwatch
$PLUG PT 100 and higherPlug Power Inc. provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, and fuel cell/battery hybrid technologies, as well as related hydrogen and green hydrogen generation, storage, and dispensing infrastructure. The company offers GenDrive, a liquid hydrogen fueled PEM fuel cell system that provides power to material handling electric vehicles; GenFuel, a hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing internet of things-based maintenance and service program for GenDrive and GenSure fuel cells, GenFuel hydrogen storage and dispensing products, and ProGen engines; and GenSure, a stationary fuel cell solution that offes modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors. It also provides GenKey, an integrated turn-key solution for transitioning to fuel cell power; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; and GenFuel Electrolyzer, an hydrogen generator optimized for clean hydrogen production. The company offers its products to retail-distribution and manufacturing businesses through direct product sales force, original equipment manufacturers, and dealer networks. Plug Power Inc. was founded in 1997 and is headquartered in Latham, New York
PLUG: WATCH FOR BREAK OUT OF THE ICHIMOKU CLOUDPLUG ICHIMOKU ANALYSIS :
The price is currently supported by Kijun, Tenkan and 20 and 50 EMAs, with Kinjun and Tenkan about to cross over. The price action is building pressure for a move above the 2 following resistances:
1. the current candle is just at the top of the cloud, looking for a break out.
2. The lagging span is stuck below the 100 EMA and the cloud. Watch for a retest and a potential break.
I'm entering a long trade on Plug .
Good risk vs reward trade as a stop can be placed just below the 50 EMA. Success will also depend of the overall market next week.
All targets on the chart .
Trade safe.
PLUG Bullish It looks like the EV sector is gaining some volume and PLUG is on its way to its old levels. The consolidation between the last major wave and this one is a very good sign for me that the volume and momentum of this stock is going to be maintained going forward. Still early in wave 3 so an entry now would still give you a good R/R. As always manage your risk and pay attention to the overall market.