Plug Power Inc. (PLUG) appears to be nearing the end of its bearish trend, based on the principles of the Wyckoff method. Over the past three weeks, I have observed a significant increase in trading volumes, which could indicate a classic accumulation phase.
Key Levels and Targets:
Key Resistance: $2.65 – A breakout above this level, confirmed with strong volumes, would signal the completion of accumulation and the beginning of a markup phase.
First Price Target: $5.00 – This represents a significant upside potential in line with the anticipated upward momentum.
Supporting Factors:
Volume Activity: Recent weeks show increasing volumes, suggesting strong buyer interest.
Wyckoff Structure: The current price action aligns with the final stages of the accumulation phase and anticipates a possible breakout.
Traders and investors should monitor the $2.65 level closely for confirmation of this scenario. A successful breakout could open the path toward the $5.00 target in the coming sessions.
Key Levels and Targets:
Key Resistance: $2.65 – A breakout above this level, confirmed with strong volumes, would signal the completion of accumulation and the beginning of a markup phase.
First Price Target: $5.00 – This represents a significant upside potential in line with the anticipated upward momentum.
Supporting Factors:
Volume Activity: Recent weeks show increasing volumes, suggesting strong buyer interest.
Wyckoff Structure: The current price action aligns with the final stages of the accumulation phase and anticipates a possible breakout.
Traders and investors should monitor the $2.65 level closely for confirmation of this scenario. A successful breakout could open the path toward the $5.00 target in the coming sessions.
omossa
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