PLUG POWER INC. - Weekly - Technical analysis published on 01/16/2023 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
39%
22%
39%
My opinion
Bearish under 18.06 USD
My targets
15.22 USD (-7.72%)
13.37 USD (-18.92%)
My analysis
The bearish trend is currently very strong for PLUG POWER INC.. As long as the price remains below the resistance at 18.06 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 15.22 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 13.37 USD as an objective. Crossing it would then enable sellers to target 2.45 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
5.5
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This analysis was given by Martin Hanel. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The PLUG POWER INC. price is 16.49 USD. The price registered an increase of +15.96% over 5 days with the lowest point at 15.85 USD and the highest point at 16.81 USD. The deviation from the price is +4.04% for the low point and -1.90% for the high point.15.85
16.81
16.49
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of PLUG POWER INC. in Weekly shows a overall strongly bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Weekly
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Upside gap
Type : Bullish
Timeframe : Weekly
ProTrendLines
S2
S1
R1
R2
R3
Price
| S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 2.45 | 13.37 | 16.49 | 20.04 | 31.75 | 44.55 |
| Change (%) | -85.14% | -18.92% | - | +21.53% | +92.54% | +170.16% |
| Change | -14.04 | -3.12 | - | +3.55 | +15.26 | +28.06 |
| Level | Major | Major | - | Minor | Major | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15.21 | 15.60 | 16.04 | 16.43 | 16.87 | 17.26 | 17.70 |
| Camarilla | 16.26 | 16.34 | 16.41 | 16.49 | 16.57 | 16.64 | 16.72 |
| Woodie | 15.25 | 15.61 | 16.08 | 16.44 | 16.91 | 17.27 | 17.74 |
| Fibonacci | 15.60 | 15.91 | 16.11 | 16.43 | 16.74 | 16.94 | 17.26 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10.89 | 11.40 | 12.40 | 12.91 | 13.91 | 14.42 | 15.42 |
| Camarilla | 13.00 | 13.13 | 13.27 | 13.41 | 13.55 | 13.69 | 13.83 |
| Woodie | 11.15 | 11.52 | 12.66 | 13.03 | 14.17 | 14.54 | 15.68 |
| Fibonacci | 11.40 | 11.97 | 12.33 | 12.91 | 13.48 | 13.84 | 14.42 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.80 | 8.64 | 10.51 | 13.35 | 15.22 | 18.06 | 19.93 |
| Camarilla | 11.08 | 11.51 | 11.94 | 12.37 | 12.80 | 13.23 | 13.67 |
| Woodie | 5.31 | 8.40 | 10.02 | 13.11 | 14.73 | 17.82 | 19.44 |
| Fibonacci | 8.64 | 10.44 | 11.55 | 13.35 | 15.15 | 16.26 | 18.06 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 47.12 | |
| MACD (12,26,9): | -2.2700 | |
| Directional Movement: | -2.24 | |
| AROON (14): | -85.71 | |
| DEMA (21): | 13.99 | |
| Parabolic SAR (0,02-0,02-0,2): | 11.49 | |
| Elder Ray (13): | -0.40 | |
| Super Trend (3,10): | 20.30 | |
| Zig ZAG (10): | 16.49 | |
| VORTEX (21): | 0.8000 | |
| Stochastique (14,3,5): | 27.12 | |
| TEMA (21): | 13.09 | |
| Williams %R (14): | -42.06 | |
| Chande Momentum Oscillator (20): | 0.00 | |
| Repulse (5,40,3): | 22.0200 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -1.3900 | |
| Courbe Coppock: | 68.01 |
| MA7: | 14.96 | |
| MA20: | 13.50 | |
| MA50: | 14.58 | |
| MA100: | 18.75 | |
| MAexp7: | 14.57 | |
| MAexp20: | 16.85 | |
| MAexp50: | 20.18 | |
| MAexp100: | 21.51 | |
| Price / MA7: | +10.23% | |
| Price / MA20: | +22.15% | |
| Price / MA50: | +13.10% | |
| Price / MA100: | -12.05% | |
| Price / MAexp7: | +13.18% | |
| Price / MAexp20: | -2.14% | |
| Price / MAexp50: | -18.29% | |
| Price / MAexp100: | -23.34% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
Don't forget to follow the news on PLUG POWER INC.. At the time of publication of this analysis, the latest news was as follows:
- Thinking about buying stock in Lucira Health, RedHill Biopharma, Plug Power, IQIYI, or Bilibili?
- Thinking about buying stock in Panbela Therapeutics, SoFi Technologies, Immix Biopharma, Plug Power, or Carvana?
- Thinking about buying stock in Ambrx Biopharma, Plug Power, Hello Group, Credit Suisse, or Carvana?
- Thinking about buying stock in American Virtual Cloud Technologies, Bed Bath & Beyond, Lucid Group, Plug Power, or 9 Meters Biopharma?
- SHAREHOLDER ALERT: Plug Power Inc. (PLUG) Officers and Directors Under Investigation for Possible False Statements and Insider Trading
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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