Plug Power Stock Forecast

Buy candidate since Dec 04, 2024 Gain 17.37%

The Plug Power stock price fell by -0.398% on the last day (Wednesday, 11th Dec 2024) from $2.51 to $2.50. During the last trading day the stock fluctuated 8.79% from a day low at $2.38 to a day high of $2.59. The price has risen in 6 of the last 10 days and is up by 20.77% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -16 million shares and in total, 34 million shares were bought and sold for approximately $84.35 million.

The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.33% during the next 3 months and, with a 90% probability hold a price between $2.06 and $2.87 at the end of this 3-month period.

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PLUG Signals & Forecast

The Plug Power stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $2.38 and $2.14. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, December 09, 2024, and so far it has fallen -6.37%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Plug Power stock

On the downside, the stock finds support just below today's level from accumulated volume at $2.13 and $2.06. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Plug Power finds support just below today's level at $2.13. If this is broken, then the next support from accumulated volume will be at $2.06 and $1.97.

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". During the last day, the stock moved $0.209 between high and low, or 8.79%. For the last week, the stock has had daily average volatility of 14.14%.

Our recommended stop-loss: $2.36 (-5.70%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (PLUG) For The Upcoming Trading Day Of Thursday 12th

For the upcoming trading day on Thursday, 12th we expect Plug Power to open at $2.49, and during the day (based on 14 day Average True Range), to move between $2.27 and $2.73, which gives a possible trading interval of +/-$0.233 (+/-9.30%) up or down from last closing price. If Plug Power takes out the full calculated possible swing range there will be an estimated 18.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $2.51 (0.40%) than the support at $2.13 (14.80%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Plug Power stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Plug Power stock to perform well in the short-term.

Current score: 4.359 Buy Candidate Unchanged

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Predicted Fair Opening Price

Predicted fair opening price on December 12, 2024 - $2.49 ( 0.412%).