Plug formed a pennat/flag on 60 mins chart. Price is looking to retest $60-62 area by mid week. Long entry looks promising at 61 with $58.5 stop loss and $106 target.
That’s 1/18 tentative risk/ reward, but company is extremely overpriced already and doesn’t sound like good investment at these valuations (or at all). Latest parabolic move could propel price higher in the short term, but have to watch it closely. If price drops below $58.5, stop loss could be filled at much lower price point due to high volatility; it would only make this set up riskier.
This is not a financial, investment, or trading advise.
That’s 1/18 tentative risk/ reward, but company is extremely overpriced already and doesn’t sound like good investment at these valuations (or at all). Latest parabolic move could propel price higher in the short term, but have to watch it closely. If price drops below $58.5, stop loss could be filled at much lower price point due to high volatility; it would only make this set up riskier.
This is not a financial, investment, or trading advise.
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