One caller during the Lightning Round segment of Mad Money Thursday night asked Jim Cramer about Ballard Power Systems (BLDP) . "Ballard is good but Plug Power (PLUG) is my favorite," responded Cramer.
We last looked at BLDP on Nov. 24 and wrote that, "The chart of BLDP has been impressive coming up from a 'penny stock' base level. This kind of name has probably attracted a fair amount of speculative or 'hot' money recently. I agree with Jim Cramer about booking some profits. New long positions should only be considered on a dip towards $18 and only with a sell stop below $16. Remember that hot money can leave as quickly as it arrived. $34 is the Point and Figure chart target but I would settle for $30."
Let's check out the latest charts of BLDP. The stock just briefly broke above $34 so I will assume traders have booked profits at $30 or higher.
In the updated daily bar chart of BLDP, below, we can see that the shares doubled in just over two months. Amazing. BLDP is trading above its rising 50-day moving average line and is twice the level of the rising 200-day moving average line.
The On-Balance-Volume (OBV) line has risen the past 12 months and confirms the price rise. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment above the zero line.