1PLUG trade ideas
The 8-Day EMANASDAQ:PLUG
strategy: swing, trend follow
timeframe: daily, weekly
entry point: price crosses or stayed above the 8-day EMA; Stochastic = not overbought; price bounces off from support.
monitoring: stay long as long as the price is above the EMA line
exit point: close the position when price hits resistance or when the price crosses down the EMA line.
PLUG 21 AUG 2020 (MRKT Closed)Looking at some stocks that have usable volume. Usually on the forex and crypto side. Principles are the same, but its taking some getting used to.
Saw this pullback in an up trend example where you can see the low pressure at resistance and INCREASE in demand as it creates support.
More demand + less supply = higher prices.
Look for demand at key support (from below)
look for supply at key resistance(from above)
Can see the fake out below support with the immediate push back into a range (trapped short chasers).
Pretty recognizable stuff. May have to add it to the menu when looking for optimal set up situations.
PLUG power price action forecast for next week!Our cycles analysis indicates the following forecast for price action this upcoming week! Will be utilizing 10$ strike Put and 13$ strike Call options for 8/21 and 8/28, respectively!!
Ultimately headed to 22-25$ per share by end of September 2020 in our view!!
Let us know your views in the comments below!!
$PLUG Still has some power to go higher
Possible long on break above $12.20.
Next major pivot $13.50
Limited upside resistance to $15.50.
Stock is overbought but still popular among day traders
so technical indicators possibly not as relevant.
Care needed as support is weak and well below current levels.
PLEASE GIVE US A LIKE IF YOU FIND OUR CONTENT HELPFUL, THANK YOU.
PLUG surging above $10!PLUG has been in a strong "Go" trend and has now broken out of a corrective trend channel to the upside.
The prior bar was enough to give a low risk re-entry on the GoNoGo Trend chart.
Having moved sharply up it has eclipsed the highs of the consolidation pattern and now should find support around the strong psychological level of $10.
What are the GoNoGo Indicators?
The GoNoGo Trend indicator blends traditional trend concepts to color price action according to the strength of its trend. The colors range from *bright blue (strongly *bullish) to dark *purple (strongly *bearish)
The GoNoGo Oscillator blends traditional *momentum concepts to demonstrate the velocity of price action. The oscillator ranges from -6 (extremely *oversold) to +6 (extremely *overbought)
$PLUG Plug Power - Downtrend Breakout on 2x Avg Volume$PLUG Plug Power - Downtrend Breakout on 2x Avg Volume
A pull-back and retest of the downtrend line as support is possible later this week. A successful retest would be the ideal entry point.
Target: $13.00 possible by Sept
*Assumes a positive ER coming later this week.
Note: Not investment advice.