PLUG is trading inside a multi-year descending wedge. There is a potential inverse head and shoulder forming on the hourly chart.Breaking above $9 could send the stock to $10.50 in the near term.
The stock has 19.90% short interest, making it a potential short squeeze candidate.
In the long term, if the stock can break out of that wedge, it could potentially reach $30.
Targets:
- $10.50
- $12
- $14
- $19
Risk:
- $7.60 - $5
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I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.