PLUG POWER - Technical AnalysisPLUG POWER is at its resistance level. RSI also entering in overbought zone. Its time to exit and book profits. The candle shows price rejection at the upside. Further, it has reported a loss for the current quarter. You may see selling pressure in the upcoming sessions. New buying area will be around 16.4
PLUN trade ideas
PLUG earnings day target $22PLUG Reported gross billings of $125.6M; reflecting growth of 106% year-over-year and 73.4% sequentially. Reflecting strong performance in the quarter; raising 2020 gross billings guidance to $325M-$330M from $310M. Hosted second annual virtual Plug Symposium showcasing strategic priorities in green hydrogen, market expansion, gigafactory and reaffirming revenue and EBITDA targets for 2024. Announced strategic partnerships with Brookfield Energy and Apex Clean Energy to source renewable electricity and build liquid green hydrogen plants. Signed an MOU with Linde to deploy pilot class-6 and class-8 vehicles on road in 2021. Recent capital raise positions the company with over $725M in cash to execute on its growth initiatives
Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell (HFC) turnkey solutions. The company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while providing efficiency gains and meeting sustainability goals.Plug Power created the first commercially viable market for hydrogen fuel cell (HFC) technology. As a result, the company has deployed approximately 35,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs. Plug Power’s vertically-integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, The Southern Company, Carrefour, and Walmart. The company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero-emission on-road vehicles, robotics, and data centers.
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PLUG Earnings Historical MovesPLUG is going to report earnings on Nov 09, 2020 Before Market Open
The options market overestimated PLUG stocks earnings move 83% of the time in the last 12 quarters. As you will see bellow, this historical data (overestimated move 83%) could give us an edge on straddles or strangles with short expires (weekly).
Predicted move after earnings: ±12.6% on average. Actual earnings move after earnings: 6.3%. Because the actual move is more likely to occur, we can make the assumption that the price will fall within the overestimated move. To follow this idea click on trading view link.
Predicted ±$2.37 (12.6%) Historical Moves
BULL = $21.23
BEAR = $16.48
Actual ±$1.18 (6.3%) Historical Moves
BULL = $20.04
BEAR = $17.67
Thanks for reviewing my Idea
Plug Power | Higher High?One of my go-to stocks with an excellent looking TA. Hydrogen stocks are populair at the moment among the renewable energy market. The increased interest and adoption of fuel-cells solutions, and future hydrogen stations, makes Plug Power Inc. an interesting stock to put on your radar. Moreover, it will be even more interesting when it can benefit from the Biden-Harris ‘ticket’ and their $2 trillion climate plan.
Additional Info:
• November 9, PLUG will announce Q3 2020 results (the company had some difficulties regarding achieving profitable growth, but are now in the good direction).
• Plug Power remains on track with the ‘Gigafactory’ and its $1.2B revenue plan.
• Plug Power’s largest customers like Amazon, Walmart and Kroger are benefiting from strong demand for its products.
• Plug Power vertically integrated two hydrogen companies, which grown Plug Power’s opportunities.
PLUG Looks Technically Good but a Few Concerns AheadIn this chart we are using the Moving Average Delta (MAD). The MAD calculates the difference between the price and the moving average. Using these two data points helps us see price movements that are normally difficult to see.
The MAD may signal a trend change when the line begins to turn toward 0, the steep of the curve represents velocity of the movement.
Bull Cases
1) Our indicator is showing a trend change with velocity
2) We are in a zone the MAD has historically considered oversold and has reversed from
3) We have made a higher low while managing to appear steeply oversold on the MAD
4) Possible positive response from president
Bear Cases:
1) We established a megaphone pattern which concerns me.
2) Earnings are released Nov 5. and if they disappoint that could severely impact the integrity of our 5 month bull trend.
3) We don't have a lot of support beneath us.
4) Possible negative response from president
I'll let you make the decision which case looks stronger to you.
NASDAQ:PLUG
Indicator: Moving Average Delta Indicator by KIVANC fr3762
PLUG ConsolidationPLUG has been in a consolidation pattern for the last week. Watch for a breakout out of the wedge to previous structure. Renewable energy stocks have been on a tear pricing in a Biden presidential win and new green energy policies. If Trump wins re-election, PLUG and other renewable energy company's outlook will be bearish.
For anyone afraid to get inMoving average indicators, volume and MACD looks good so far.
Looks to me like right now is a good time to buy, with a little caution of course. If this goes red then might need to revisit.
Price Target EOY is $20
Price Target NOV 2021 $50 if this picks up wind with clean energy demand.