PLUG Near-Term Pivot $2.10, Support $2.05
$Plug Power(PLUG)$
PLUG Edges Up +2.44%: Defending $2.05 Support, Consolidation Continues
Latest Close Data:
PLUG closed at $2.10 on Dec 25, up +2.44% from yesterday's close of $2.05. It remains -54.1% below its 52-week high of $4.58.
Core Market Drivers:
The stock is consolidating after a period of volatility, with market sentiment cautious towards the unprofitable hydrogen fuel cell sector.
High short interest remains a persistent overhang, though recent daily short volume ratios have moderated from peaks seen in November.
Technical Analysis:
Volume was 47.48M shares, with a volume ratio of 0.86, indicating activity below recent average levels.
The MACD histogram (0.0106) remains positive but is flattening, suggesting bullish momentum is waning.
The 6-day RSI (41.09) has rebounded from near-oversold territory (33.51), indicating a short-term relief bounce but is still in neutral ground.
Key Price Levels:
Primary Support: $2.05 (Dec 24 level). A breakdown could retest $2.00.
Strong Resistance: $2.22 (Dec 24 level). A breakout is needed for a more sustained move higher.
Immediate Pivot: $2.10 (Today's close). Direction from here will set the near-term tone.
Valuation Perspective:
The company remains unprofitable with a negative TTM P/E of -1.02 and a P/S ratio of 4.32.
The Forward P/E of -2.65 is above its recent historical average of -5.10, but improving from deeper negative territory seen in 2022-2023, reflecting expectations for narrowing losses.
Analyst Targets:
Among 25 analysts tracked, the consensus is "Hold" with 6 Buy, 14 Hold, 4 Underperform, and 1 Sell ratings. The average 12-month price target is $2.71, implying ~29% upside from the current price.
Weekly Outlook:
Expect consolidation between $2.05 and $2.22. A decisive close above $2.22 could target the $2.30-$2.40 zone.
Conversely, a break below $2.05 support may lead to a retest of the $1.95-$2.00 area. The flattening MACD suggests range-bound action is likely in the near term.
Risk Disclaimer:
This content is for informational purposes only and not investment advice. Trading involves substantial risk. The analyst has no position in PLUG. Past performance does not guarantee future results. Always conduct your own research and consider your financial situation before trading.
For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs.
🎉Cash Boost Account Now Supports 35,000+ Stocks & ETFs – Greater Flexibility Now
Find out more here.
Complete your first Cash Boost Account trade with a trade amount of ≥ SGD1000* to get SGD 688 stock vouchers*! The trade can be executed using any payment type available under the Cash Boost Account: Cash, CPF, SRS, or CDP.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
