![]() Investing in or trading crypto or stock comes with a risk of financial loss. The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. By Louis Navellier and the InvestorPlace Research Staff Apr 27, 2023, 6:15 am EST. The price may break out of the range and change the long-term trend. PLUG's upcoming earnings report could drive the next big slide for the stock. PLUG price is now near the previous low where buyers are accumulating to form a base. The price has been volatile since the last quarterly results, forming an inverted head and shoulder pattern and a double top. The PLUG stock price rose 3.88% on Tuesday after the analysts predicted a huge upside potential of 839%. is an alternative energy company that makes hydrogen and fuel cell systems. The overall technical opinion rating including RSI and MACD signals an 80% “buy” with a weakening short-term outlook in maintaining the current direction. The daily PLUG stock price chart shows that the price trades below the 50-day EMA indicating the dominance of sellers at the moment. The price declined which was further fueled by the recent quarterly earnings as the company missed the Wall Street estimates. Thereafter, sellers dominated the trend and halted the further upward trajectory leading to the formation of double top. However, the upward momentum of the stock was halted by the 200-EMA at $13.44. ![]() The earnings triggered a buying sentiment and the price surged higher forming an inverted head and shoulder pattern. ![]() Moreover, the price analysis over the daily chart shows that the price witnessed a bullish momentum after the last quarterly results. ![]() Moreover, the analysts expect a drawdown of 9.64% which could drag the price to a low of $7.70. are super bullish over the stock price with a maximum potential of 839% to the upside that could lead the price to $78. The analysts offering a 1-year price forecast for Plug Power Inc. (PLUG) stock price gained 3.88% intraday on Tuesday showing bulls accumulating at the lower levels to form a base. 3 PLUG stock price fell below the key moving average of 50-EMA.(NASDAQ: PLUG) price may cause buyers to regain momentum and make a trend change. 1 PLUG stock shows consolidation above the previous support zone.PLUG stock is up 3.3% as of Tuesday morning. That could also result in a boost for PLUG stock if the move goes over well. This has investors excited about the possible benefits that will offer to the business. PLUG is set to benefit from the company reaching a larger range of customers with its new GenKey offering. Our turnkey expanded GenKey offering is making the adoption of hydrogen easy for the material handling industry, allowing more businesses to benefit from increased productivity, lower costs and more flexibility.” How This Affects PLUG Stock “Building on our experience in creating the first commercially-viable market for fuel cells, Plug is proud to be leading the industry in making green hydrogen adoption easy for a wider set of customers. Jose Luis Crespo, General Manager of Fuel Cell Applications and Global Accounts at Plug Power, said the following about the news: It also includes tax breaks for businesses using this green technology. The company is able to do this as the Inflation Reduction Act introduced legislation to lower the cost of fuel cell production. The company notes that these types of warehouses make up over 25% of all forklifts sold in the U.S.Īccording to Plug Power, expanding its GenKey offering to these locations will speed up the adoption of fuel cell use for these facilities. Stock prices used were the afternoon prices of Aug. The new GenKey expansion has it offering its fuel cell solutions to warehouses operating less than 100 electric forklifts. contributor Parkev Tatevosian discusses the market opportunity for Plug Powers (PLUG-3.55) products in this short video. Plug Power (NASDAQ: PLUG) stock is on the move Tuesday after the company announced an expansion to its GenKey offering.
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