• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing

Does Plug Power Still Look 'Golden'?

A subscriber asks about Plug Power's golden cross signal.
By BRUCE KAMICH
Nov 22, 2021 | 11:45 AM EST
Stocks quotes in this article: PLUG

A long-time Real Money subscriber asked me about Plug Power (PLUG) this morning. "Is it still bullish or should I take my profits and go? Do I see a golden cross on the chart?" they wrote.

Let's check out the PLUG charts this morning.  

On Nov. 2 we wrote that, "PLUG has improved nicely. Traders who are long should continue to hold but raise stops to $31 from $25. The $53-$54 area is our new price target."  
 
In the updated daily bar chart of PLUG, below, we can see that the shares have rallied nicely since our recommendation. PLUG is trading above the rising 50-day moving average line. PLUG is trading above the 200-day moving average line but its slope is still negative. The 50-day line is indeed crossing above the 200-day line for a bullish golden cross of these averages.
 
The daily On-Balance-Volume (OBV) line has been steady this month. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line and could turn up (bullish) or down (bearish) depending on the price action in the days ahead. 
 
 
In the weekly Japanese candlestick chart of PLUG, below, we see a positive-looking chart. Prices are trading above the 40-week moving average line but its slope is negative.
 
The weekly OBV line is leading the way higher with its own new high. The MACD oscillator has crossed above the zero line for a new outright buy signal. 
 
 
In this daily Point and Figure chart of PLUG, below, we can see that the trade at $46 has refreshed the uptrend. The price target is $58. 
 
 
 
Bottom-line strategy: Traders who are long PLUG can continue to hold but I would raise stops to $36 from $31. Our first target is $53-$54 with $58 after that.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Technical Analysis | Energy | Transportation

More from Investing

Melvin Capital's Demise Presents a Beauty of an Opportunity

Brad Ginesin
May 22, 2022 1:20 PM EDT

The top holder in several companies, the hedge fund's abrupt liquidation has contributed to weakness.

I'm Organizing a Bottom-Fishing Expedition

Bret Jensen
May 22, 2022 11:00 AM EDT

It is easy to see the value of this retail play.

Here's the Secret to Market Timing

James "Rev Shark" DePorre
May 21, 2022 10:00 AM EDT

You've probably been told timing the market is futile, but here's a way to make it possible -- if you're willing to do the work.

It's Official: That Hairy Animal With Claws and Sharp Teeth Is a Bear

James "Rev Shark" DePorre
May 20, 2022 4:31 PM EDT

Along with the media proclamation of a bear market, we have some improvement in the charts of many smaller stocks, but ...

How to Move on MongoDB

Bruce Kamich
May 20, 2022 2:19 PM EDT

Let's take a technical follow-up look at MDB -- and give a word of caution on this software name.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 02:24 PM EDT PAUL PRICE

    An interesting chart

    I'm betting heavily that stocks will be way up aga...
  • 10:10 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    "Market Timing for Dummies"
  • 01:44 PM EDT STEPHEN GUILFOYLE

    Stocks Under $10 Portfolio

    We're making a series of trades here.
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login