PLUG trade ideas
Animal ChartingTrading off the idea of finding animals in your chart patterns (or just use support and resistances like a normal pers-)
keep a close eye on PLUGim getting in on a few calls if PLUG remains above the first green line. SL below bottom green line. my area to take some profis is around that 39-43 area.
A trading idea on PLUG!If you believe the Nasdaq is going to hit ATH next, PLUG is one of the stocks that can outperform the index (or underperform if it drops).
Either way, it is a fact that we have a descending triangle here, the bottom is at 29.81 and it seems it is trying to break the upper line. The RSI has an advanced breakout that could work for us.
The problem is the RSI in the 4h chart, that is still a little overbought (not much, but enough to make me wonder if it can keep going up).
If PLUG loses the bottom of the triangle, then the bullish idea will be ruined, at least temporarily. But it can fil the gap at 32.13 if it triggers the pattern in the 30min chart.
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See you soon,
Melissa.
$PLUG June Analysis *This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
My team got into $PLUG Tuesday evening at $30.75 per share. The stock now sits at $30.28 after correcting from its previous high of $75.49. $PLUG is a hydrogen energy company towering its industry. We have good reason to believe that $PLUG will beat its earnings tomorrow. After down trending more than HALF from it's all-time high stockholders should expect $PLUG to uptrend throughout June.
Earnings are expected to be announced tomorrow. 6/03/21
If you want to see more, please like and follow us @SimplyShowMeTheMoney
Plug Earnings Showing Inverted H&S with neckline and conformation at 31.93.. last 2 trading days have been volatile but plug has held its trendline (white line) . Im thinking this pattern might just need some fundamental news for the breakout like a great earnings. I have my alert set
PLUG - 4h Chart - Longterm BuyOverview
PLUG is one of my favorite Stocks already since 2 years. While i dont really care about fundamentals, it is to mention that the German Government will put 8 trillion Euros into the field of hydrogen and as PLUG is one of the big players in that particular field - its worth to mention. Specially since the last time similiar news came out (in November 2020) PLUG started its big run.
I look at 3 points where i will buy equally many stocks. The plan is to take out my initial investment at the target area and let the rest run.
Dont forget:
- Watch your Risk management
- DYOR (Do-Your-Own-Research)
Please consider:
This information / article is only for educational purporses and not a recommendation to buy or sell.
I'm not a Financial Advisor.
Thanks for reading!
trader_se
PLUG - BREAKS OR NOT?Yo!
not much to say here.. the possible outcomes you can see on the charts
Dont forget that the stochastics shows overbought!
Goodluck,
t347.
NASDAQ:PLUG
Its a buy for meBroke out of falling wedge.
RSI finding support.
Other oscillators curling up from the sell side.
Lets get this cake.
PLUG, Bearish to 27.60 or equivalent Looking on weekly chart PLUG is higher High of this week. Plug can come down to 27.60 starting monday next week.
Inverse Head and Shoulder income ? I hope we will see a inverse HS.
If this was Wave 1 and Wave 2 is for the right Shoulder then Wave 3 could go to 2.618 because otherwise Wave 3 is to Short.
Buy = 25$ - 21€
Sell = 48$ - 39€
PLUG at critical level - time to break through
PLUG has been in an aggressive downward move this year.
The chart shows two failed attempts to get through the $29.60 resistance level. It is now attempting a 3rd and I'm bullish. Why?
The price action shows the aggressive downward move, a breakout from this move around $26.30 and a slight rotation of the angles indicating we may have found a bottom and more buyers are coming in.
But the ascending triangle is why I'm hopeful for a rotation up, this is a bullish pattern and it follows the evening out of the slope down.
The 29.60 level is critical because it is not only a stubborn resistance, but it now has the 200 EMA sitting on top of it which can also act as resistance. Double Whamy.
Because this level is so stubborn I'll be placing a stop buy order on the other side of this, with a tight stop in case of a false break and a rejection back lower.
You'll see similar patterns in Bloom Energy, Canadian Solar and some of the other green energy stocks, which suggests a category rotation giving me more faith in the move.
Suggest picking which one to trade carefully and not picking all of them without looking at correlation since they're all behaving in very similar ways.
$PLUG IH&S$PLUG retraced 70% from it's all time highs during this 2021 - Now looking at it's price action its seems that it has bottomed already - wait for a higher low and a break above $30 and the 200 MA to confirm IH&S pattern. Feel free to long above those levels when this happens. Earnings might be the catalyst for the break. I will keep an eye on this name.
$PLUG Earnings playI believe that the reaction to PLUG's earnings will create a break from this ascending triangle either the downside or the upside. Whichever direction seems fit I will either hold my Leaps that I'm in or I will hedge them with puts. I am fine with either direction but I see a break will happen.
$PLUG Possible Reversal IncomingClosing in on trading around the VPOC. Resistance at $30. Would love to see a break and retest for a healthy reversal. If not, expect a move back down towards support and an Inverse H&S to form. Depending on what happens at $30 we might see a reversal.
