I like the look at FCEL here.
It appears to have broken out of a descending wedge, retested the wedge trendline and appears primed to pump. It's also sat nicely on top of the 100MA which should provide support.
For this reason, I'm long here with a tight stop at $3.90.
I have a crazy-high target of $49 based on the falling wedge breakout, but in reality would...
FuelCell Energy
Short Term
We look to Buy at 4.29 (stop at 3.84)
Previous resistance at 4.40 now becomes support. A higher correction is expected. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Buying pressure dominated price action yesterday and we expect this to continue today.
Our profit targets will...
Hey traders, Its been a rough bear market and I have finally got back in.
There was a huge $369 billion climate bill announcement last week, which gave the clean energy sector a boost. FCEL, PLUG and ICLN etf.
Jan 2023 has over 73000 calls, while there are 18000 puts in OI.
Happy trading!
biden admin will take fcel to the next level, elon will need batteries when he gets to mars theyll surely use fuelcell energy, fell is the future, PT 150
FuelCell Energy
Short Term
We look to Buy at 3.35 (stop at 3.04)
Previous support located at 3.35. A higher correction is expected. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Buying pressure dominated price action yesterday and we expect this to continue today.
Our profit targets will be 4.24 and...
This is what I was saying earlier this morning, finally had the time to plot it.
Pennant forming and it's on a downtrend. Manchin killed the green bill, so no reason to pump alt energy companies
Upward channel, Great place to get some strangles either call debit spreads with the same on the put side to lower risk but cap gains.
I except fcel to test the 200 ema around $5 whithin the coming weeks.
Options play is a strangle/straddle best used with debit spreads.
Price targets - $5+ and $3- if it breaks the $3 dollar mark we would most likely see $2. if...
in this bearish downtrend channel but there's still some upside potential.
We could see a rally to 5.67-8.16 resistance zones before the next pullback. and if trend resistance breaks its game over for shorts.
Chart pattern was completely wrong, but in the end I was right about it heading to $3, lol. If only I saw the post Fed tank coming....
BLDP is now at $6, that has further to go. They've never made any money at all.
Stock seems to form a frustrating bottoming pattern over recent weeks/months. If so, we could see a target at around 60$ when it comes to CUP&HANDLE pattern.
FCEL
Quite the ugly chart. Your typical “pump and dump” chart.
After moving side-ways for almost all of 2020, Price broke out Nov. ’20 and started its sharp uptrend pump
This pump took price from 3.50 and peaked at 29.40s in Feb. ‘21
Price then came crashing down to 11.54 where it found support.
Price went on to break down from this support and pulled back to it...
FuelCell Energy
Short Term - We look to Sell at 5.36 (stop at 5.86)
The primary trend remains bearish. A break of 5.50 is needed to confirm follow through negative momentum. Closed below the 50-day EMA. We look for losses to be extended today.
Our profit targets will be 3.69 and 3.12
Resistance: 7.00 / 8.00 / 11.50
Support: 5.50 / 3.50 / 2.50
Disclaimer...
FCEL broke out of its bull flag pattern after forming an inverse head and shoulder pattern
I took a Long position at 6.18
Stop loss will be placed below the previous pivot low
After a downtrend, price entered a distribution phase. Price broke down from support and pulled back in form of a bear flag. The bear flag has now also been broken.
There is also a Death cross indicating bear market conditions.
Entry: Pullback to 50ema or bottom of bear flag.
Stoploss: 6.05
Target: 3.25
