What’s Next for Plug Power?
March 11, 2021
Knox Ridley
Portfolio Manager
With the Nasdaq still in correction territory, renewable energy star, Plug Power (PLUG), is more than 35% off the all-time high. This is after a large bounce off the recent $34 low.
When the stock made a new all-time high of $75 in late January, we started to get signals of a top forming. We warned our premium readers, and even provided downward price targets we would be looking to start a position. Our readers were skeptical when we suggested a short-term price target of $34 was on the table in a webinar. At the time, this level of correction seemed extreme, so we provided an upper target at $43 region. This price, based on our forward growth analysis, was a solid value.
As we hit the $34 region, we saw heavy buying. Based on the significance of this level from our analysis, we expect this level to hold on any retest in the near future. The excitement in renewable energy, plus the technical significance of the recent bottom, should put a floor at this level.
We see the move in Plug as a healthy pullback in a strong long-term uptrend. Plug is a key player in the global green energy trend. This coupled with how it has followed our outlined count, made us comfortable laying into the position on this pullback. The fact that we bottomed at the $34 region, so far, further confirms our long-term view.
We added to Plug at $43, and will look to add on any notable breakout.
Gains of up to 2,400% from our Free Newsletter.
Here are sample stock gains from the I/O Fund’s newsletter --- produced weekly and all for free!
2,400% on Nvidia
450% on Bitcoin
*as of Oct 04, 2024
Our newsletter provides an edge in the world’s most valuable industry – technology. Due to the enormous gains from this particular industry, we think it’s essential that every stock investor have a credible source who specializes in tech. Subscribe for Free Weekly Analysis on the Best Tech Stocks.
If you are a more serious investor, we have a premium service that offers lower entries and real-time trade alerts. Sample returns on the premium site include 3,850% on Nvidia, 650% on Chainlink, and 700% on Bitcoin. The I/O Fund is audited annually to prove it’s one of the best-performing Funds on the market, with returns that beat Wall Street funds.
Get a bonus for subscription!
Subscribe to our free weekly stock
analysis and receive the "AI Stock: 5
Things Nobody is Telling you" brochure
for free.
More To Explore
Newsletter
This Stock Is Crushing Salesforce, MongoDB And Snowflake In AI Revenue
In this article, I break down how Palantir’s AIP is putting it a step above peer Salesforce, MongoDB and Snowflake with visible AI growth, and its undeniable ‘secret sauce’.
Nvidia, Mag 7 Flash Warning Signs For Stocks
In this report, my team will address the risks brewing in the market. The strange behavior in the bond market could be signaling that the FOMC has made a policy error. This coupled with key tech stock
Why the I/O Fund is Not Buying Nvidia Right Now: Video Interview
In an interview with Darius Dale, Beth Kindig stated: “We ultimately think you can get Nvidia lower than where it is trading now. We are likely to take gains between $120 and $150 based on technical l
Cybersecurity Stocks Seeing Early AI Gains
Below, I look at the demand environment for leading cybersecurity stocks CrowdStrike, Zscaler, Palo Alto, and Fortinet, and which ones have key metrics hinting toward underlying strength.
4 Things Investors Must Know About AI
We’re still in the early innings of AI, but the pace of transformation that AI is driving is unlike any other technology seen before, and that was evident at Communacopia. Below, I dig in to the four
AI PCs Have Arrived: Shipments Rising, Competition Heating Up
Chipmakers Qualcomm, Intel and AMD are working to bring AI-capable PCs to the “mainstream”, delivering powerful neural processing units to PCs for on-computer AI operations. AI PCs are not only a cons
Prediction: Microsoft Azure To Reach $200 Billion In Revenue By 2028
The lead we see from Microsoft today on AI revenue streams is critical enough and predictive enough that it points toward Azure surpassing $200 billion by 2028, catalyzed by the OpenAI investment.
Nvidia Stock Is Selling Off: It’s Not Because Of Blackwell
Direct liquid cooling doesn’t lie as it’s intricately linked to the Blackwell launch, implying that Blackwell would indeed ship by Q4 – and Nvidia just confirmed that (multiple times) in Q2’s release.
Nvidia Stock: Blackwell Suppliers Shrug Off Delay Ahead Of Q2 Earnings
Bulletproof Nvidia showed an unusual bout of weakness this past month following a report from The Information that Nvidia’s new AI chips are delayed. The report asserts that Nvidia’s upcoming artifici
Arm Stock: Buy Its Customers, Not The Stock
Arm Holdings is the third-best performer of 2024 in AI-related semiconductor stocks with a 56% YTD return, behind only Nvidia and Taiwan Semiconductor.