Ongoing decline · week 17 · Nasdaq
Plug Power drops 4% for a 7th straight weekly loss as a falling ADX saps conviction
Our view last week
Plug Power's week undoes the tentative return of buyers: sellers take back 79% of the volume, the stock drops 5.3% and money flow, which had climbed almost to zero, turns lower again. For Plug Power stock it is a 6th straight losing week, with bearish price action and an ADX still losing conviction. Price stays boxed between the 1.96 and 1.99 areas; for swing trading readers, the short is 28% in profit.
This week's summary
Plug Power sheds another 4% and logs a 7th straight losing week, turned back at its 20-day moving average in the 2.02 area. Yet the decline is grinding on with less and less conviction: the ADX has been falling for 17 weeks and money flow, which had turned lower a week ago, is back within a whisker of zero. Price action on Plug Power stock stays bearish; for swing trading readers of US stocks the short is 31% in profit, with the 30-week low in the 1.83 area as the next test.
IQS Phase
65
in tension
Signal Strength
44
downtrend making lower lows, pace holding
Sizing
REDUCED
Ranking
#54 / 175
US stocks
Trade P&L %
+31.16%
from signal to date, no stop loss
Plug Power (PLUG) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 54th among the 175 sell signals for US stocks in our ranking, with a signal strength of 44 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimein strong phase
Performanceweekly +1.80% · monthly +8.83%
PLUG belongs to the growth tech sector (reference ETF XLK). The sector is classified in strong phase according to our weekly reading.
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