Plug Power Up 5.4%, Shares Break Through Resistance (PLUG)
Written on Tue, 04/14/2015 - 12:45pm
By Shiri Gupta
Plug Power (NASDAQ:PLUG) is one of today's best performing low-priced stocks, up 5.4% to $2.73 on 1.4x average daily volume. Plug Power has traded 4.5 million shares thus far today, vs. average volume of 3.3 million shares per day. The stock has outperformed the Dow (5.4% to the Dow's 0.5%) and outperformed the S&P 500 (5.4% to the S&P's 0.2%) during today's trading.
There is potential upside of 53.8% for shares of Plug Power based on a current price of $2.73 and an average consensus analyst price target of $4.20. The stock should find initial resistance at its 50-day moving average (MA) of $2.85 and further resistance at its 200-day MA of $3.98.
Over the past year, Plug Power has traded in a range of $2.42 to $8.37 and is now at $2.73, 13% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.7% while the 200-day MA has slid 0.7%.
Plug Power Inc. designs and develops on-site, electricity generation systems. The Company's systems utilize proton exchange membrane fuel cells for residential applications.
SmarTrend recommended that its subscribers protect gains by selling shares of Plug Power on September 18th, 2014 by issuing a Downtrend alert when the shares were trading at $4.44. Since that call, shares of Plug Power have fallen 41.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. |
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