Plug Power Daily Chart Analysis:
Shares saw a possible bounce near support and have since then moved higher.
The stock is trading below both the 50-day moving average (green), and the 200-day moving average (blue), indicating sentiment in the stock looks bearish.
The price may find resistance near each of these moving averages in the future.
Key Plug Power Levels To Watch
Plug Power is trading in a channel and the gap up Friday pushed the stock closer to the potential resistance line.
The $19 price level acted as resistance previously, and on Tuesday, the stock may have bounced near this level.
Plug Power Short-Term Chart Analysis: The 15-minute chart shows the stock has possibly made what technical traders call a double bottom at the $33 price level.
The price has been unable to cross below this level in the short term. The short-term chart shows lower highs with a flat bottom. This is something bearish technical traders may like to see.
See also:
The stock is trading below both its 200-day moving average (blue) and its volume-weighted average price (pink). This may add to the short-term bearish sentiment for the stock.
Plug Power Daily Chart Analysis: The daily chart above shows there may be potential support near the $35 mark.