If you believe the Nasdaq is going to hit ATH next, PLUG is one of the stocks that can outperform the index (or underperform if it drops).
Either way, it is a fact that we have a descending triangle here, the bottom is at 29.81 and it seems it is trying to break the upper line. The RSI has an advanced breakout that could work for us.
The problem is the RSI in the 4h chart, that is still a little overbought (not much, but enough to make me wonder if it can keep going up).
If PLUG loses the bottom of the triangle, then the bullish idea will be ruined, at least temporarily. But it can fil the gap at 32.13 if it triggers the pattern in the 30min chart.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
Either way, it is a fact that we have a descending triangle here, the bottom is at 29.81 and it seems it is trying to break the upper line. The RSI has an advanced breakout that could work for us.
The problem is the RSI in the 4h chart, that is still a little overbought (not much, but enough to make me wonder if it can keep going up).
If PLUG loses the bottom of the triangle, then the bullish idea will be ruined, at least temporarily. But it can fil the gap at 32.13 if it triggers the pattern in the 30min chart.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.