PLUN trade ideas
BUY $PLUG PT1 72 PT2 80 SL 60 Rationale
Hydrogen Companies are hot right now
Secondary done at $65 this is now a key level
Volume shelf at $65, Price is current retesting this as a floor
Option interest for Feb 12th is 60% calls
Crazy IV on options, potential covered call play
Current Consolidation Range volume has decreased, the price is getting ready to move rapidly.
Plug looks like a sell to me.I have entered a sell on Plug. See chart. The publications from Lord Skin are not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment.
Potential Top in PLUGBefore I start, I want to make clear I am not a permabear. I've been long PLUG, FCEL, and BLDP at varying times of this bull run via commons and calls. They've been great. But this chart pattern has the look of a top. For candlestick nerds (like me) out there, this has the potential for a Dumpling Top. PLUG exploded 100%+ in six trading days (on a closing basis) and has since put in a bunch of relatively small candles. An attempt higher on 01/26 on lower volume unsurprisingly failed. The following day it gapped lower and closed on the lows on higher volume. In order to confirm a Dumpling Top, a gap down is required. And looking at how the market closed Friday and the way the crypto markets are trading currently, I wouldn't be surprised if we get that gap down on Monday.
This could certainly morph into a high tight flag setup, but I think the current conditions warrant caution. PLUG closed Friday below the 10-day EMA. I'm currently long UVXY, TWM, and PLUG puts. Good luck next week!
Plug Power Has Formed a Descending TrianglePlug power has stuck out to me for a long time now. With all of the hype of the energy stocks and how Joe Biden will influence these types of markets, I decided to analyze this stock. Since Plug Power has formed a descending triangle, and it has just recently bounced of of its support, in theory, it would go up. Our price target would be about 74 dollars by the end of the week.
PLUGPlug provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe. The company garnered an abundance of attention from investors in 2020 for its GenDrive system, a hydrogen-fueled PEM fuel cell system that provides power to material handling electric vehicles.
Trading in a range.
Looking for a breakout of the range on high volume.
1. Leading sector
2. Revenue Increasing
3. Room for institutional buying
PLUG beautiful Cup & Handle in place, next one to take off? Chart is our friend!
We have a Bull flag forming with a Cup & Handle,
I could see this rip trough the first resistance around $80
Recent headlines from Reuters helping the ODS:
* PLUG POWER EXCEEDS 2020 GUIDANCE AND RAISES TARGETS FOR 2021 AND 2024
* PLUG POWER INC - RAISING 2021 ESTIMATES FOR GROSS BILLINGS TO $475 MILLION
* PLUG POWER INC - INCREASING 2024 GROSS BILLINGS TARGET BY MORE THAN 40% TO $1.7 BILLION
Source text for Eikon: ID:nGNX5ypkH Further company coverage: PLUG
((Reuters.Briefs@thomsonreuters.com;))
Buckle up!