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Plug Power Inc. (PLUG)

Plug Power stock forecast: buy or sell

Close on Sep 25th, 2020
$11.65 0.04%
3 months performance
0.65%
Published: September 27th, 2020 - 17:37

Plug Power stock outlook

  • Plug Power closed on Friday at $11.65 after skyrocketing a 3.65% and broke a streak of 4 sessions in negative.
  • Barclays posted a neutral rating for Plug Power on Friday, forecasting $13.00
  • Plug Power Inc. provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe.

Important:
The viewpoints contained in this post are personal and not recommendations for you to buy or sell stocks. The author of this paper does not have any knowledge of the particular positions of the reader, his or her finances or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Comments are provided for learning motives only

Plug Power stock charts

Should I buy Plug Power stock?

Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is PLUG stock a buy?

Currently, Plug Power stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean we expect a selloff for PLUG in coming sessions, or that it may not climb higher. Simply, it doesn't match our recommended trading systems

Should I sell Plug Power stock?

"To sell or not to sell", if you are holding Plug Power stock?. Just as when we have to buy shares, choosing when is the best time to sell is not a fickle decision, and we must follow our own trading style. Our trading system selects very simple strategies to guide us on when is the best time to sell our shares. Be aware that these strategies are not intended for shorting PLUG stock

As a golden rule, you should never keep an investment that produces losses greater than those expected upon the buy. When to sell your stock always has to be ruled by the stop-loss (automatic or manual)

Is it time to sell Plug Power stock?

Currently, Plug Power stock doesn't match any of our preferred sell setups, so if you own Plug Power stock and your operation is in profit probably is not time to sell now

Analysts' recommendations to buy or sell Plug Power stock

Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal

In the last month, 2 analyst ratings were published for Plug Power

Plug Power ratings

Brokerage firmRating
Sep 18th, 2020
Morgan Stanley
Sep 25th, 2020
Barclays

Technical analysis

SMAs overview

Moving averages are indicators for investors to gauge market direction. A moving average is the average price of a stock over a set period of time. Usual time periods used for moving averages are 21 days, 50 days, 100 days and 200 days

PLUG SMAs chart

Supports and resistances

Investors use support and resistance levels as a way to identify price points in the stock price action that tend to behave as glass ceiling, containing the price of a stock to move in certain direction. A support level is a level where the price tends to find support as it falls. Price is more likely to "rebound" this level rather than break through it. However, if the price breaks down this level, it is likely to continue descending until finding another support level. On the contrary, resistance levels are where the price may find a curb as it rises. In the same way, this means that the price is more likely to "bounce off" at this level, and if it finally crosses this level, it will rise more easily until it meets the next resistance

The current resistances are:

  • R1: $11.72 (0.6% above)
  • R2: $13.64 (17.08% above)
  • R3: $14.35 (23.18% above)
  • The current support levels are:

  • S1: $11.50 (-1.29% below)
  • S2: $10.92 (-6.27% below)
  • S3: $10.70 (-8.15% below)
  • Bollinger bands

    The so-called Bollinger bands are a well-known practice designed by John Bollinger. In essence, the Bollinger Bands are bands that run around a moving average, varying the distance from the bottom to the top depending on market volatility. They are usually drawn by an offset of two standard deviations, above and below, from a moving average line. Bollinger himself recommends the moving average period to be 20

    PLUG RSI chart

    Relative strength index

    The relative strength index (RSI) is a technical indicator used in the analysis of stock markets. Its objective is to map the current and previous weakness or strength of a stock or market based on the closing prices of a recent trading period. Like other oscillation indicators, the RSI fluctuates from 0% to 100%. J. Welles Wilder introduced the relative strength indicator in 1978 and since then it has been widely used by stock traders

    The RSI dropped below the overbought level of 70 on September 2 after just crossing to the overbough zone for just one day (weak signal). The RSI value on Friday was 46.19. Plug Power shares dropped a 17.55% since RSI lost the overbought zone

    PLUG RSI chart

    Earnings and financials

    Plug Power hosted the quarterly earnings call and released the second-quarter report in early August. Plug Power presented second-quarter earnings of $-0.03 per share on revenue of $68.1 million. The Wall St estimate was $-0.10 per share on revenue of $57.8 million.

    Compared to the same quarter one year ago, EPS was $-0.08, so reported EPS means a improvement of 62.5%. Sales exploded a 19.28% on an annualized basis in the Q2, from $57.1M to $68.1M last quarter. Plug Power made three YoY quarterly results in green, improving revenue by 92.45% from $35.4M on 2017-Q3.

    Plug Power is releasing earnings report on early next November. Wall Street predicts a per-share earnings of %s of $-0.07, compared to Q2 that made $-0.03. If you hold or you are looking to buy Plug Power stock, you must be aware that financial reporting day usually has a higher than usual volatility, and price can soar and sink with very low liquidity and not honouring your buy or stop-loss orders. You can probably uncover more details about the earnings conference call and the earnings reports on the Investor Relations section of its website: http://www.plugpower.com.

    PLUG revenues and profits chart