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Inside the technicals of PLUG
Plug Powers, Inc.
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About PlugPlug Power, Inc. provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses. The company was founded by George C. McNamee and Larry G. Garberding on June 27, 1997, and is headquartered in Slingerlands, NY. |  |
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Technical Analysis
Today we are looking at another low cost tech stock that has been on a massive decline with potential to start moving up again. Plug Powers is just one of many alternative fuel companies that has been dragged down due to the Trump Administration being pro big oil and coal. However, recently President Trump as walked back on a few of his words when talking about alternative energy. Lets look at what this is doing to the charts.
Lets start with this daily chart. This chart looks at 2024 through present. You can see how the stock has been on the downtrend with very little moves up, until recently. From Jan 2024 to today’s closing price of $1.66 (8/18/25), the stock is down 67%. You can also see along the bottom of the chart the red earnings dates, showing lack of financial support for investors.
Now lets look at the hourly chart below. We are now looking at YTD. In this range PLUG is down about 29% but that is better than the May low being down a whopping 70%. Since that low 2 months ago the stock has moved from $0.69 up to $1.66 which is a move of about 136% in a positive direction.
What I’m seeing in the chart is the making of a cup and handle which is a bullish signal for another move upward. I added three resistance lines as to where the cup and handle signal can possibly pop off or be rejected. These prices are $1.80, $1.85, and $2.01. My hope would be is if PLUG can make it past the $1.85 range, we could see lift off. If the cup and handle signal pays off, I think the next resistance after that could be about $2.30 range which would be a 39% move from where it is today.
A Final Note
Plug’s CEO, Andrew Marsh, spoke on Bloomberg News today and had a positive outlook for the company moving forward. If you’re looking for that high risk high reward type of stock, this may be one to do a little more research on. We may post a fundamental analysis sometime soon.
“Never financial advice, just a thought.”
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