PLUG: Several bullish patterns around!Hello traders and investors! Let’s see how PLUG is doing today!
First, we had a Double Bottom triggered in the 1h chart, and the key point was the $ 30.40 – remember this point. What’s more, it did defeat this key point by doing a Breakaway Gap.
Now, the technical target is the $ 34.35, but since PLUG is quite far from its 21 ema, pullbacks are expected, but not required. If it drops again to its 21 ema, it would be an opportunity to buy.
Now, the daily chart:
Remember the $ 30.40? The market seems to remember this price level quite well, and it has been working as support/resistance since December last year.
Today’s volume is very good, and this might be an Ignition Bar. Although the short-term target is the $ 34.35, the daily chart suggests it could hit the $ 37.75, or even the $ 48.35 next. The gap (yellow square) can help to attract the price to higher levels.
Let’s see if this will be an Ignition Bar or not. Either way, remember to follow me to keep in touch with my daily updates, and please, support this idea if it helped you!
Thank you very much!
