In our June 8 review of Plug Power ( PLUG) , we wrote that, "Aggressive traders could go long PLUG at current levels risking to $16. On the upside we have targets of $28 followed by the low $40s."
Unfortunately our recommendation was stopped out as prices sank to under the $15 level. Prices have firmed again and yet again and look ready for further gains. 
In this daily bar chart of PLUG, below, we can see that prices made a low in May and a higher low in early June, followed by another higher low in late June/early July. Prices are now knocking on the highs of May and, we are hoping for a sustained upside breakout.
Prices have rallied above the declining 50-day moving average line. The On-Balance-Volume (OBV) line has followed the price action since May and has improved modestly. The Moving Average Convergence Divergence (MACD) oscillator has moved up from the middle of May and is close to breaking above the zero-line for an outright buy signal.
In this weekly Japanese candlestick chart of PLUG, below, we can see two lower shadows below the $15 level telling us that traders are rejecting the lows. Prices are trading below the declining 40-week moving average line. The weekly OBV line shows some stability in May and June. The MACD oscillator is close to crossing to the upside for a cover-shorts buy signal.
In this daily Point and Figure chart of PLUG, below, we can see a potential upside price target in the $27 area.
In this weekly Point and Figure chart of PLUG, below, we have a downside price target but a trade at $20 could improve the picture.
Bottom line strategy: Nimble traders could go long PLUG on strength above $20. Look for gains to the $25-$27 area.
