Before I start, I want to make clear I am not a permabear. I've been long PLUG, FCEL, and BLDP at varying times of this bull run via commons and calls. They've been great. But this chart pattern has the look of a top. For candlestick nerds (like me) out there, this has the potential for a Dumpling Top. PLUG exploded 100%+ in six trading days (on a closing basis) and has since put in a bunch of relatively small candles. An attempt higher on 01/26 on lower volume unsurprisingly failed. The following day it gapped lower and closed on the lows on higher volume. In order to confirm a Dumpling Top, a gap down is required. And looking at how the market closed Friday and the way the crypto markets are trading currently, I wouldn't be surprised if we get that gap down on Monday.
This could certainly morph into a high tight flag setup, but I think the current conditions warrant caution. PLUG closed Friday below the 10-day EMA. I'm currently long UVXY, TWM, and PLUG puts. Good luck next week!
This could certainly morph into a high tight flag setup, but I think the current conditions warrant caution. PLUG closed Friday below the 10-day EMA. I'm currently long UVXY, TWM, and PLUG puts. Good luck next week!
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면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.