Wednesday, January 13, 2016

[PLUG] update

For those of you who are new to TA, let my experience with PLUG be a lesson.  I bought in the $1.60s and then sold very near $3.00.  All my reasons were based on the chart and nothing was based on fundamentals because nobody, not even the CEO, knows what the real fundamentals are.  In the backlink the chart was telling me to be careful and I gave the following model.



Here is current actual.  The herd can easily view the current breakdown as a H+S breakdown even though it is not a very pretty one.  But it can also go down and test mid channel (blue case) and then break out as shown.  I do not have a good sense which it will be a this point but red is always primary.  If this hits the lower rail as shown in a rapid collapse I will be there buying the throwunder...  That would truly be blood in the streets for these shares.

 

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