PLUG forming a HUGE macro cup and handle pattern

11 janv. 2023

Here as you can see this asset is trading in this range ever since it topped in 2021 marked by the yellow parallel channel, plug power is forming this possible bull flag/handle that could potentially take this stock to new all time highs which seems impossible for now. But who knows what could happen with new hydrogen based technologies/engines. Hydrogen is the most common element so I can see why the potential returns could be huge if this is used as our primary energy source at some point in the future.

This big fibonacci downward slopping channel also confirms this. The 3.618 is a macro golden pocket fib extension, and right now as we speak plug is hugging and chopping along this line for years. A clear breakout above this will confirm this bull flag and then create the handle of the cup.

Good luck with your trading guys