PLUG trade ideas
the targets of $Plug with harmonic patternsXABC is a butterfly harmonic pattern:
AB=0.78 XA
BC=0.38 AB
tp1=1.6 BC=$62 *reached*
tp2=1.27 XA=$134
tp3=2.24 BC=$325
other targets with X345 cypher or shark possibility:
tp4=1.13 3-4=$94
tp5=1.41 3-4=$155 *more likely*
tp6=1.6 3-4=$220
since other targets of butterfly are higher than $75 the price zone of could not be dangerous, but be careful at this price zone.
PLUG - possible end of correction ? (4H/1D - Mid term plan) Hi Traders,
Let me know what you think about this count.
My opinion for entire EV market is we could be near the local bottom and preparing for another growth wave.
Lets se, trade safe and use Stop-loses. ;)
PLUG - Interesting PLUG RSI breakout hits Scanning through PLUG today to try to find potential direction and I see some clear r.s.i. breakouts and re-taps of its previous r.s.i. resistance. I'm already long PLUG in June contracts as of Friday. We could see a nice push to 30 if these hold. Large call option sweeps have been showing on our bots, as well as large dark pool orders.
PLUG- Future of hydrogen clean energy is uncertainPLUG is arguably the leader of hydrogen fuel cell company. However, there are several concerns that need to be addressed.
#1. Hydrogen clean energy is still at the proof-of-concept stage and the natural gas industry seems to be its biggest advocate. Hydrogen gas is emission-free only if it's made by electrolysis from renewable energy.
#2. Currently, major renewable technologies include hydroelectricity, solar PV and wind power. Unlike solar and wind power, hydrogen doesn't occur naturally and needs to be manufactured from natural gas. This means that the significant time and cost will go toward setting up expensive infrastructure, storage and distribution networks making hydrogen power much harder and much more expensive to scale compared to solar and wind.
#3. Personal transport is one of the biggest application of the hydrogen, yet FCEV (Hydrogen) is steadily losing ground against BEV (Battery Electric Vehicle). The falling battery price and EV tax credit will only accelerate the adoption of EV, further widening the gap between FCEV and BEV.
#4. Sky high valuation and recent accounting issues.
I'm ambivalent toward PLUG and other fuel cell companies in general. However, I think it is a speculative bet and a good candidate for the swing trade given that one of the focuses of Biden's 2.25 trillion infrastructure plan is renewable power and that investors just love to throw their money on anything related to green energy due to the global decarbonization initiative that aims to reduce the CO2 emission by 50% in 2030.
I would initiate a small long position inside the demand zone. Conservative play is to set the target at the daily POC and exit completely. Alternatively, you can sell 50% and keep the remaining position as the potential long-term holding.
Do your own research. Not the investment advice.
Oversold! Due for a bounce towards high 30s, even low 40sPlug is in oversold territory. A bounce towards high 30s and even low 40s is due. High 24s/25s are good entry points. Manage risk accordingly. Good luck!
Plug Power - Watch the breakout Long term trend intact. The falling wedge caused by strong consolidation might be finished soon. IMO a very good entry point!
Good luck everyone.
PLUG - Descending wedgeImportant level where we can see a bounce up. We need a break out of the wedge formation to see some upward movement again.
Unusual Option Activity Plug $1.4M premium traded above OINASDAQ:PLUG $1.4 M in premium traded for $29 strike calls for April 23th expiration traded Today.
Unusual Activity for $29 calls about 17,000 contracts traded around 2:39pm @ approx $0.70 (Above Open interest of only 1252)
Plug power earnings date is 05/06/2021
This stock is showing a nice hammer on the daily close today after falling past few days indicating a possible reversal in trend.
The stock has bounced off Long term support at 24.52 & also held 25.71 previous support.
It is also showing a possible cup and handle on the 15 minute chart with today's bounce. Expect support to hold and stock to keep running up towards ER after drawdown.
2 week's time on these options I would recommend a vertical spread to keep theta at bay.
Support 25.71
Resistance 27.77
Target 28.35, 28.75, 29.25 & 30.41
SL close below 25.75 new support.
Follow more unusual activity signup for a free trial using my referral link marketaction.live
Please let me know in the comment if you find this useful.
PLUG Falling Wedge PatternPLUG price has been consolidating in a falling wedge pattern and today it bounced off the yellow support line. Will the pattern result in a continuation or reversal?
This level of Accuracy is not beatable easily..!No censorship can hide or beat this level of accuracy..!
March 4th, Plug power was 43 when I put the target on 25..!
Why we returned to a long buying zone ?A convergence of factors that pleads for a bull-run :
- The price touchs on April 13, 2021 its 200-day SMA,
- The price may soon drop back to the 0.786 Fibonacci level. This ratio is obtained by considering the date of November 2, 2020, i.e. the last price that touched the green uptrend line. Indeed, we must consider that the action seems to want to retest this bullish slant;
- The price is now down to 2/3 of the red-green falling wedge, which is an ideal situation for a breakout,
- The stock could soon find its 1st pivot point support,
- We can observe a beginning of a tightening of the Bollinger bands with in particular a raising of the lower limit.
Stategy :
1) We could anticipate a large and powerful purchasing zone between $ 25.4 and $ 28.9 (cf. purple range).
2) Ideally, it will be necessary to wait for a confirmation with the break on volumes of the top of the descending bevel.
Medium-short-term goals :
closing the gaps opened at 42.5$ (1) and 46$ (2).
ADDED $PLUG Target 58.84 for 35.70% ADDED $PLUG Target 58.84 for 35.70%
Or next add level is at 27.88
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On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
I start every position with 1% of my account and build from there as needed and as possible.
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
PLUG bullish case if $29 holdsPlug has a 4 hour bullish divergence and nice reversal at the end of the day. If $29 holds and deals the short term downtrend, this one can go on a nice run and maybe even gap fill at 42.60
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PLUG retracementPLUG approaching 161% retracement. Low RSI and trend going against SPX. May see support at $28.
PLUG in buy zoneThis is a great set up for entry long
Possibly 2x
It needs to breakout of this trend, to get back to $70s
Buy buy buy.
Exit at $28
ER coming May 11th
PlugLooks to have broken first resiatnce if 32.63. 4hr 20 ema resiatnce at 32.89 and normal recent rejection area 33.33. Target of pattern is 36.29. Should find some struggle at 35.17
Held strong at 0.618 Fibonacci extensionLook to go long below 0.5 extension, anything below 0.618 is even better. Price target 35.64+
PLUG bouncing in a strong support linePLUG is on a support line tested several times.
Target price: 70
Expected Returns: >100%
