Remember PlugPower? [PLUG]

In the backlink one of the models I gave is reproduced below.  That model suggested that the shares could begin to accelerate to the bottom of the channel with target price in the 50 cent range.



So today it has taken a slightly different path and thus I am showing the current actual PLUG chart in log scale.  The chart has taken on that bent over fishing pole look that is often a precursor to a rapid snap back that, in aggregate, I refer to as a unicorn tail.  This has now fallen slightly past the mid point of the rising wedge channel so I think it could have more to go but when it bottoms it should be a rapid finish with rapid recovery perhaps similar to what happened during blue B of red 4.

After it bottoms, and that should be this coming week, I expect a minimum bounce up to $1.30 but it would not surprise me to see it go as high as $3 either.  If it doesn't find support at the current level then it should do so at 85 cents which would be the gap fill.  Please keep in mind that I rode it up for nearly a double into the $3 range and then dumped it right at the peak.  These trades are a matter of public record which can be easily verified by walking through the backlinks. 

The only way I could call these turns is if there were some kind of semi predictable pattern to it.  If you think this is trading on fundamentals and news then I must know the future.  But of course I don't know the future and so there must be some kind of predictable order to it.  As it happens, there is.  And the only decoder ring for understanding it that I have ever seen is the Elliott wave principle.  It's not perfect and in fact even the best EW analysts are only right 70% of the time in future model predictions.  But the key is that we know very quickly when the model has gone wrong and that is just as important as the original prediction.  I can tell you that I called the recent bottom in the miners to within a couple trading days. 

2017 is going to be  very volatile year by all indications - far more than many think is possible. If you want to have some advance notice on what could likely take place, you know where the subscribe button is.  And by personal request I have also added a month by month subscription option for those that do not like automatic monthly renewals.  I'm sorry but the extra work it will take to manage month by month subscribers means I have to charge a few bucks more for my service.  Nothing is free after all.  But it does give monthly control of the cash burn rate and every conservative person I know is looking for that right now.  Best of luck in your trading.