CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Plug Power

Market Opportunities - 13/01/2021

13 January, 2021

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible opportunity for profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

Plug Power weekly uptrend opportunity based On 1.00 Lot Calculation:

  • Plug Power stock price has increased by around 100% only in 2021 (to test its highest rate since 2005 ($70.00)). The average 2021 daily volatility rose to 10.37% (as of January 12, 2021) from 2020’s 7.87%. Data Source: YahooFinance.
  • Plug Power Inc. is involved in clean energy industry, which is expected to be well supported by the incoming Biden (Democratic) administration in the U.S. The company is focused on hydrogen and fuel cell systems that are used to power electric motors primarily in the electric mobility and stationary power markets. Plug Power uses proton exchange membrane (PEM) fuel cells to generate electricity from hydrogen gas without combustion. The model is expected to be supported by the US administration in the coming months as big money should be invested in fuel cell- powered vehicles and infrastructure to protect the environment.
  • Plug Power Inc. and Groupe Renault, top automotive player, announced the signature of a Memorandum of Understanding (MOU) to launch a 50-50 joint-venture based in France by the end of the first half of 2021. This strategic Joint Venture will position Groupe Renault and Plug Power to become key players in Europe in the research and development (R&D), transformation, manufacturing and sale of fuel cell-powered vehicles and hydrogen turn-key solutions in the coming years.

Plug Power (#PLUG), January 13, 2021
Current Price: 70

Plug Power


Trend direction


Resistance 3


Resistance 2


Resistance 1


Support 1


Support 2


Support 3


Example of calculation base on weekly trend direction for 1.00 Lot*


Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $







Profit or loss in €**







Profit or loss in £**







Profit or loss in C$**







* 1.00 lot is equivalent of 1000 units
** Calculations for exchange rate used as of 7:00 a.m. (GMT) 13/01/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details

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