FCEL looking good!On December 10th we noted the GoNoGo Squeeze that had formed on FCEL, and that we should watch to see if the GoNoGo Oscillator can break out of the squeeze by rallying off zero into positive territory. We have seen that happen this week, on both the daily and the 4hr chart (seen here). As is often the case, after a period of low volatility (depicted by the GoNoGo Squeeze), the price move can be significant.
We are looking now to see if price can consolidate at these levels and forge ahead to more gains.
FCELB trade ideas
$FCEL Fuelcell $15.00 very Achievable.
Breakout well underway.
Moving above the 2017 0.382 Fib level is a huge win for the bulls.
Targets -
$12.60 Fibonacci and Candle resistance
$14.00 as above
$15.00 0.5 Fibonacci retracement level
A measured move from the Flag pole take us very close to $20.00
We have nailed this stock form the lows and have continues to
take profits along the way.
$Fcel Looking to make a moveWith the EV sector hot and Fcel building a base on the .618 fib level, it looks to make a run soon. PT at $20 to complete wave 3. - MACD cross over. Stochastic looks a little high so it may cool a bit after the first run but expect it to continue to climb.
This is not advice.
Bullish Rising ValleyIMO: Great momentum to the upside with support at ~$8.85 if bulls can keep this price movement and trade side ways it could define a good support for a breakout towards ~$9.80.
Personally with the growing higher highs I'd like to see new highs in 21'
Disclaimer: Not financial advice
FCEL LONGSeems like an incredible investment, the stock shows signs of high instructional interest, with a confirmed trend reversal to the upside.
Company description
FuelCell Energy, Inc. is a fuel cell power company. It designs, manufactures, operates, and services Direct Fuel Cell power plants that run on natural gas and biogas. As the biggest publicly traded fuel-cell manufacturer in the U.S., the company operates over 50 plants all over the world. Wikipedia
Current events at play
The stars are perfectly aligning for hydrogen fuel cell company FuelCell Energy (NASDAQ:FCEL).
Renewable energy has been one of the strongest performing sectors in the market this year.
FCEL uncertaintyFCEL ran on no news, other than the suggestion of hydrogen being used for EV. Of course then an offering happened, and the hype died down. IT will run in sympathy with PLUG, but I'd like to see FCEL come out with sustenance to make a run of their own. The volume has died down, big pivot point at 7.84. Fib retracements are at a buying point. Remember right now, ever since Wednesday SPY sentiment has pretty much dictated most of market movement. Lots of plays awaiting confirmation got wrecked this week. Trade cautiously.
Which way from here for FCEL?This is an interesting set up for Fuel Cell Energy. The trend is a “Go”, but we are struggling to match the recent high of the move. The top of the gap from the 2nd of December recently acted as resistance and so that will need to be cleared for there to be a rally back to $11.
The GoNoGo Oscillator is riding the zero line causing the climbing grid of GoNoGo Squeeze to rise to extremes. We will watch to see in which direction it breaks out to determine prices near term direction.
If the oscillator is able to break out of the Squeeze into positive territory then we can expect price to move higher, in an attempt to set new highs above $11.