Plug Power, Inc.Zaktualizowano PLUG | ABC correction ongoing
Hi all,
so PLUG looks like it is currently in wave A of an ABC correction after a blowout top. The overall market is definitely helping with the downside. I'm sure these next few days will flush out a lot of froth in these names.
- Price action broke down below what seemed a potentially bullish rising wedge, which had been forming for almost a month, signifying the start of the correction after the extremely strong move up in January;
- This really feels like it trying to retrace back and fill the huge 37$ - 40$ gap up from early January;
- PLUG's RSI hasn't been this low since March 2020 - should be on the lookout for bullish divergence with price for a turnaround
I am still very bullish on the name, would love to grab more shares ~38$ if I can.
Please comment your thoughts and good luck to all!
so PLUG looks like it is currently in wave A of an ABC correction after a blowout top. The overall market is definitely helping with the downside. I'm sure these next few days will flush out a lot of froth in these names.
- Price action broke down below what seemed a potentially bullish rising wedge, which had been forming for almost a month, signifying the start of the correction after the extremely strong move up in January;
- This really feels like it trying to retrace back and fill the huge 37$ - 40$ gap up from early January;
- PLUG's RSI hasn't been this low since March 2020 - should be on the lookout for bullish divergence with price for a turnaround
I am still very bullish on the name, would love to grab more shares ~38$ if I can.
Please comment your thoughts and good luck to all!
Uwaga
If the $37 range holds today, we can assume the ABC correction is completeUwaga
Gap filled, retesting $37 range support today. Really curious to see whether this holds. Careful for the downside, next support may be as far down as 30$.Uwaga
$37 range is really holding strong. Waiting on an indication of reversal to add to my positionUwaga
This was brutal jeez
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