Plug Power's decline slows but doesn't stop
Plug Power stock sheds 2.2% as the decline runs low on fuel
Our view last week
Plug Power banks another gain, 6.4% this week, but the technical picture is turning: seven days ago buyers dominated volume at 86%, now that push has halved to 53%, in a phase still marked by ongoing distribution. Money flow is improving but stays negative, and the ADX keeps sliding, below the 24 mark. On Plug Power stock the sell signal, live for 9 weeks, now works above the 2 area, after two weeks of rebound.
This week's summary
Plug Power stock is building a run of 4 higher lows on the daily chart, from the 1.9 area to the 2.1 area, yet the week still closes down 2.2%, after 2 weeks of gains. The sell signal has been under management for 11 weeks, with the short more than 17% in profit: our weekly technical analysis shows buyer pressure fading, though, on a stock still marked by distribution underway.
IQS Phase
72
in tension
Signal Strength
2
decline fading out
Sizing
MINIMUM
Ranking
#88 / 93
US stocks
Trade P&L %
+17.75%
from signal to date, no stop loss
Rank position
ranks 88th among the 93 sell signals for US stocks in our ranking, with a signal strength of 2 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly -3.53% · monthly +1.69%
PLUG belongs to the growth tech sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
restricted Platinum content