PLUG POWER (#PLUG ) weekly special report based On 1 Lot Calculation:
HYDROGEN FUEL CELL MARKET
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GLOBAL MARKET SIZE: A hydrogen fuel cell is a device that converts hydrogen and oxygen into water while simultaneously generating electricity. End users are fuel cell vehicles, utilities and defense. The global hydrogen fuel market size was valued at $14.3 billion in 2022, and is projected to reach $95.5 billion by 2032, growing at a CAGR of 21.5% from 2023 to 2032. Key market players include Bloom Energy, Shell plc, Linde, Plug Power, DuPont de Nemours.
PLUG POWER
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THE COMPANY: Plug Power Inc. is an American company engaged in development of hydrogen ecosystems that includes everything from hydrogen production, storage, and delivery to energy distribution. It develops hydrogen fuel cell systems that replace conventional batteries in equipment and vehicles powered by electricity. It offers a number of solutions to deliver and store green hydrogen to customers.
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INVESTMENTS AND PROSPECTS: Plug Power forecasts 2023 revenue of $1.4 billion, and it's targeting revenue of $5 billion in 2026 and management expects sales to rise sharply over the next three years. Institutions hold 55% of the company which is a huge vote of confidence on its future. The company aims to exceed 2,000 tons of daily hydrogen production from its green hydrogen network, including its first kiloton-scale plant by 2030 and to have the manufacturing capability to support 10 GW of fuel cells and electrolyzers and, through its partnership with Renault, to have 100K HyVia vans on the road by 2030.
NEWS AND ANALYSIS:
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NOVEMBER 10, STOCK PRICE REACHED THE LOWEST LEVEL SINCE MARCH 2020. The stock price has traded around 94.4% below its all-time high of $75.49 (January 26, 2021). According to statistics, since the price hit the record high in 2021, it has experienced 5 major downturns with 6th recently ended. If a full recovery follows, to recent all- time highs, the stock could see an upside of around 1697%. However, the price could decline further.
DOWNTURNS PRICE STATISTICS |
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Wave number |
Start |
End |
The Price Change (%) |
1 |
21-Jan-2021 |
5-May-2021 |
-76% |
2 |
21-Nov-2021 |
28-Jan-2022 |
-62% |
3 |
4-Apr-2022 |
14-June-2022 |
-55% |
4 |
25-Aug-2022 |
28-Dec-2022 |
-64% |
5 |
2-Feb-2023 |
15-May-2023 |
-61% |
6 |
19-July-2023 |
10-Nov-2023 |
-76% |
Average |
-65% |
(Source: MT4)
Please note that past performance does not guarantee future results.
PREVIOUS UPWARD WAVES STATISTICS |
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Wave number |
Start |
End |
Price at Start |
Price at End |
Price change (%) |
Duration (days) |
1 |
5-May-2021 |
21-Nov-2021 |
$18.47 |
$46.50 |
151.76% |
200 |
2 |
28-Jan-2022 |
4-Apr-2022 |
$17.51 |
$32.05 |
83.04% |
66 |
3 |
14-June-2022 |
25-Aug-2022 |
$14.54 |
$31.00 |
113.20% |
72 |
4 |
28-Dec-2022 |
2-Feb-2023 |
$11.88 |
$19.00 |
59.93% |
36 |
5 |
15-May-2023 |
19-July-2023 |
$7.39 |
$13.00 |
75.91% |
65 |
AVERAGE |
97% |
85 |
(Source: MT4)
Please note that past performance does not guarantee future results.
CURRENT WAVE STATISTICS |
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Start |
End |
Price at the Start |
Current Price (16-Nov-2023) |
Price Change (%) |
Wave Duration (days) |
10-Nov-23 |
Ongoing |
$3.22 |
$4.20 |
30% |
6 (Ongoing) |
(Source: MT4)
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ANALYSTS OPINION: JP Morgan targets to $6. Morgan Stanley forecasts $9, Susquehanna forecasts $13 and Citigroup forecasts $12.5.
PLUG POWER (#PLUG), November 16, 2023
Current Price: 4.20
Plug Power |
Weekly |
Trend direction |
|
13.00 |
|
9.00 |
|
6.00 |
|
3.00 |
|
2.00 |
|
1.50 |
Example of calculation based on weekly trend direction for 1 Lot1
Pivot Points |
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Profit or loss in $ |
8,800.00 |
4,800.00 |
1,800.00 |
-1,200.00 |
-2,200.00 |
-2,700.00 |
Profit or loss in €² |
8,111.57 |
4,424.49 |
1,659.18 |
-1,106.12 |
-2,027.89 |
-2,488.78 |
Profit or loss in £² |
7,095.49 |
3,870.27 |
1,451.35 |
-967.57 |
-1,773.87 |
-2,177.02 |
Profit or loss in C$² |
12,056.09 |
6,576.05 |
2,466.02 |
-1,644.01 |
-3,014.02 |
-3,699.03 |
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1.00 lot is equivalent of 1000 units
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Calculations for exchange rate used as of 09:50 (GMT) 16/11/2023
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient Manager regarding their use.
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You may wish to consider closing your position in profit, even if it is lower than suggested one
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Trailing stop technique can protect the profit – Ask your Senior Account ManagerClient Manager for more detail