Plug Power Inc. ( PLUG) reported a larger-than-expected second-quarter loss Wednesday evening and its stock price is weaker in the pre-market here on Thursday morning. Let's check out the charts and indicators of the fuel cell producer to see what may be ahead for its shares. 
In this daily bar chart of PLUG, below, I can see that prices have remained trading below the declining 200-day moving average line. Rallies have been only temporary bounces and PLUG has retreated to make a new low for the move down in May. Trading volume in the past three months has been heavier than earlier in the year but its has not produced signs of aggressive buying. The On-Balance-Volume (OBV) line has been on a downward path into late June. The trend-following Moving Average Convergence Divergence (MACD) oscillator is pointed down and only slightly above the zero line. Further stock price weakness could generate an outright sell signal from this indicator.
In this weekly Japanese candlestick chart of PLUG, below, I can see the past three years of price action and it is definitely not encouraging. Prices are in a longer-term move to the downside. PLUG trades below the 40-week moving average line and its slope is still negative. The weekly OBV line showed us a couple months of improvement but weakness in July is not helping. The MACD oscillator has been stubbornly below the zero line.
In this daily Point and Figure chart of PLUG, below, I can see a downside price target in the $8.50 area.
In this weekly Point and Figure chart of PLUG, below, I can see the same price target of $8.50.
Bottom line strategy: PLUG has disappointed investors for years ( as noted here), and at this point in time I see no technical reasons to consider the long side of PLUG.
