Plug Power

Plug Power (NASDAQ: PLUG) stock price prediction is not looking very bullish despite a significant bounce from its May 2023 lows. After dropping to the $7.44 level, the stock is currently in the midst of a recovery. While the stock is trading 40% above the lows, technical analysis suggests there could be more downside. On a short timeframe, the stock is still maintaining its uptrend that started in May 2023. However, the upside seems limited due to the presence of multiple resistances and fundamental factors. A correction in tech stock is also very likely as the NASDAQ 100 index is trading at a huge resistance level of 15,200 points. What Is Plug Power Stock? Plug Power is an American tech company that specializes in the production of Hydrogen fuel cell systems that replace conventional batteries. These systems can be installed in different electrical equipment and vehicles. With its manufacturing facilities in Spokane, Washinton, and Rochester, the company is headquartered in Latham, New York. The company was founded in 1997 and became a publicly listed company after an IPO in October 1999. Since then, Plug Power stock has been trading on the NASDAQ stock exchange in the US under the ticker NASDAQ: PLUG. Plug Power Stock Latest News According to the latest Plug Power news, the company is going to hold a crucial investor event on 14th June. Investors are expecting some big news at the much-awaited Investor Day. Plug Power stock price is reacting very positively ahead of the key event. In other news, Citi has started the coverage of Hydrogen stocks and has given a 'buy' rating to the stock. The investment bank's price target for NASDAQ: PLUG is $13, which is about 25% above the current price level. Citi sees Plug Power as the best-positioned player in the space. Plug Power Chart The following chart of Plug Power share price chart is not for the weak of hearts. Shortly after its IPO in 1999, the company was accused of securities fraud for multiple violations during its listing process. This ended with a $5 million settlement with the plaintiffs in 2004. However, the stock remained in a tailspin due to the lack of any major developments. Plug Power Share Price Chart Plug Power Stock Forecast Today The latest technical analysis shows that the stock price of the fuel cell developer is heading for the retest of the $13 level. This will be a very critical retest as it is a previous support that may now act as a resistance. A reclaim of this level may trigger a strong rally. Plug Power Stock Price Prediction 2023 Technical analysis of NASDAQ: PLUG shows that $13 is the most critical level on the daily chart. While the stock has been rallying since May 2023, it still needs to break above this huge resistance level to show strength. In the coming days, a retest of $13 is quite possible. As long as the price remains below $13 level, my Plug Power stock price prediction 2023 will remain bearish. I expect a sharp rejection from this resistance in the coming weeks as the US stock becomes overheated. In the meantime, you are also welcome to follow me on Twitter to keep track of my personal trades and the latest analysis on Plug Power stock. NASDAQ: PLUG Daily Chart Plug Power Stock Price Prediction 2025 As shown in the chart above, in case of a reclaim of the $13 level, Plug Power share price may head towards a retest of its $32 resistance. Therefore, if the US economy doesn't enter into a major recession in the coming years, I expect the price to trade within the $13-$32 range by 2025. This Plug Power stock forecast will be only valid if the shares break above $13. Plug Power Stock Price Prediction 2030 The price of any asset 7 years from now is anybody's guess. The Plug Power stock price prediction 2030 depends on a lot of factors. Firstly, the macroeconomic landscape of the world will determine the liquidity in the markets at that time. Secondly, the adoption of electric vehicles will be another significant variable. Thirdly, many new competitors may emerge in the coming years which may give Plug Power Inc. a run for its money. Should I Buy Plug Power Stock? The last person you should ask for financial advice is some random guy on the internet. Actually, the investment expectations of every individual may vary. First of all, you must determine the timeframe of your investment. If you are investing for the mid-term, then you need to watch for a reclaim of the $13 resistance very carefully. This may give a good mid term trade for a major relief rally on a higher timeframe. https://www.youtube.com/watch?vbM0omYjgI3o&ppygUQcGx1ZyBwb3dlciBzdG9jaw%3D%3D Plug Power CEO On 2024 Profitability How To Buy Plug Power Stock? There are many ways to gain exposure to the price action of Plug Power share price. The best way is to buy Plug Power stock on online broker sites like Robinhood, eToro, and Interactive Brokers. However, you must define your risk constraints before investing in any stocks. When Will Plug Power Stock Go Up? Many analysts are expecting the US economy to enter a recession in the second half of 2023. Even Fed Chair Jerome Powell has acknowledged the possibility of a mild recession. Any slowdown in the economy will be detrimental to the Plug Power stock price. Who Owns Plug Power Stock? According to the reports, Groove Energy Capital LLC is currently the largest shareholder which owns 9.2%. Vanguard Group, Inc. and BlackRock, Inc. are the second and third largest shareholders with an 8.8% stake each. Conclusion The recent Plug Play stock price action suggests that this could just be a dead cat bounce. For a proper bullish reversal, the stock needs to break above the $32 resistance level. This seems unlikely to happen anytime soon, considering the current economic conditions. However, from a long-term perspective, the current price can still be considered a nice entry point if one believes in the company's vision.

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