PLUN trade ideas
Pennant Pattern with a large potential upside ~$110I love the pennant pattern and if this is true to the rule of thumb then there's ~$40 of upside to this. Rule of thumb says to tack on the increase that created the pole for the pennant to the price when exiting the pennant. That put's it at $110/share.
See the definition at investopedia.com just search for "Pennant"
BUY PLUG 2.16.2021Possible Dip buy opportunity on PLUG if it can bounce off of the 1.272 level area.
Not Over YetThe next week will be very telling in where is stock is headed for the short term. Long term, the potential for this company is still very promising.
Time to pull the PLUGReward/Risk: 2/1
Entry: 59.08 or at a higher price
Stop: 66.00
Target: 43.00
Options Play: March 19 55/50 Put Vertical
PLUG - Drifting to the MA (50)The chart looks great. In fact I bought some just looking at it because it's gorgeous. Of course, then I looked at RSI & MACD to see what they have to say. Unfortunately, strong divergence. Very possible we'll see this stock break down below this pennant in the next few days. If it does that, we could see prices on or about the 50 day moving average. The one optimistic detail is the declining seller volume. which leads me to the title of this post -- it could just very well float sideways in this pattern for a little while longer until either the MA (50) meets up with it (March) or it breaks out. If that's the case, awesome, it'll give those indicators a chance to align with price action and we'll eventually see this one pop. Adding this one to my watchlist until one of the above happens.
$PLUG HUMP, LUMP, DUMP pattern Some see a bullish pendant, but I see a "HUMP, LUMP, DUMP"
$56 PT if confirmed break down
On the opposite side, could be a long entry if daily candle closes above pendant
$PLUG, 15 minute bat bounce spot IN from 62's if you followed first plan, $PLUG likes harmonics , lets see
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 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.
take the money and run!I don't like trading a company that relies heavily only on the Democrats. Before I joined Tradingview, I bought its common shares in September betting that my great #45 had no chance for another 4 years. I then sold my PLUG shares before Christmas.
$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.
PLUG Consolidating, Ready to Break OutPlug Power shares have been staying around the $65 mark for the past weeks. They are testing their support right now, and that could mean a breakout is coming. Also, it appears to be at the bottom of the RSI indicator, which is always a good sign. Good Luck!
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.
BUY $PLUG - 02.15.2021Stockonomy Weekly Pick 02.15.2021
$PLUG has been a big name inside the EV space over the past year and, thus, has seen a massive run-up.
Price has been consolidating on low relative volume for 3+ weeks.
Price could move higher with some volume coming in.
$PLUG playing the formulaIf that lower pink line is holding for tomorrow + upper pick line broken if touched = next target is 90+
PLUG Daily PLUG Daily
Ascending Triangle in formation . However there is a possibility of a large consolidation . Must close above 75.5 for a proper buy . Expect false breakouts as the triangle is yet to complete .
Target 15 dollars as height of triangle
$PLUGPossible harmonic to add back shares we trimmed in 69's from 65, see chart, Still holding shares so im ok if it doesn't pullback
PLUG Flag BouncePLUG looks to be forming a flagging formation, consolidating between 66-75. It is at the bottom of the flagging range and looks to be bouncing with a trend towards the top of the range to 75. I'm expecting this to stay in the consolidation range with upward movement toward 75.
PLUG POWER CHARGING UP FOR A BREAKOUT!!Large triangle funnel found on $PLUG! Huge breakout opportunity to $90 within the next couple of weeks possible!
$PLUG | Bull Flag Formed At Support: Watch For A BreakoutPlug formed a bull flag at support. Watch for a breakout for upside continuation.
Let me know what you think in the comments and leave a like if you agree with my analysis! 👍🏽
Good luck!
