![]() Systematic retrieval of data or other content from, whether to create or compile, post to other websites, directly or indirectly, as text, video or audio, a collection, compilation, database or directory, is prohibited absent our express prior written consent. Any other use, including for any commercial purposes, is strictly prohibited without our express prior written consent. You may use and the contents contained in solely for your own individual non-commercial and informational purposes only. Liable for your own investment decisions and agree to the Users should not base their investment decision upon. is a research service that provides financial data and technical analysis of publicly traded stocks.Īll users should speak with their financial advisor before buying or selling any securities. We, therefore, hold a negative evaluation of this stock. Plug holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. Our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance. Since the stock is closer to the support from accumulated volume at $16.57 (3.55%) If Plug Power takes out the full calculated possible swing range there will be an estimated 15.73% move between the lowest and the highest trading price during the day. Which gives a possible trading interval of +/-$1.35 (+/-7.87%) up or down from last closing price. Trading Expectations For The Upcoming Trading Day Of Tuesday 5thįor the upcoming trading day on Tuesday 5th we expect Plug Power to open at $17.11, and during day (based on 14 day Average True Range), We hold a negative evaluation for this stock. For the last week, the stock has had a daily average volatility of 6.65%. This could be an opportunity for a risk defined entry for a swing trade back to the highs or to establish a long term position for investment. As price pulls back from the earnings rise it is making new swing highs and has setup a 50 Retracement at 22.05. During the last day, the stock moved $0.79 between high and low, or 4.71%. PLUG Power NASDAQ:PLUG is setting up a post-earnings Support level. This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". Plug finds support from accumulated volume at $16.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested. Further fall is indicated until a new bottom pivot has been found. A sell signal was issued from a pivot top point on Friday, May 27, 2022, and so far it has fallen -9.86%. Some negative signals were issued as well, and these may have some influence on the near short-term development. This causes a divergence between volume and price and it may be an early warning. Volume fell during the last trading day despite gaining prices. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. On a fall, the stock will find some support from the long-term average at approximately $16.64. On further gains, the stock will meet resistance from the short-term moving average at approximately $17.35. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. Specifically, according to Morgan Stanley, in order for Plug to merit even its current equal weight rating and $35 price target, it's going to be necessary for Plug to grow its business to $1.7 billion in size by 2024 (Plug's current trailing-12-month revenue is negative $100 million), then grow 23% annually from 2025 through 2030, 14% annually from 2030 to 2040, and 9% annually from 2040 to 2050.The Plug stock holds a sell signal from the short-term moving average at the same time, however, there is a buy signal from the long-term average. While Morgan Stanley listed several "risks" to Plug's business, the scenario it lays out for how Plug will overcome these risks is arguably of even greater concern. And there's even a risk of "further accounting restatements" such as the one that sent Plug stock plummeting last month.Īnd that's not all.So many new producers of hydrogen may give rise to "overexpansion of manufacturing and hydrogen supply," diminishing Plug's pricing power and postponing profitability."Multiple aggressive competitors" have entered the hydrogen space, and especially the upstream market for producing hydrogen gas through electrolysis - arguably the keystone underlying Plug's new business model. ![]() ![]() According to a copy of Morgan Stanley's note, via TipRanks, in addition to the factors we already mentioned (worries that Plug stock has only "modest stock price upside" at its current valuation), we now know that Morgan Stanley has other concerns about Plug stock as well.
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