Resistance

Time

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Plug Power stock price (NASDAQ: PLUG) fell 5.62% in the current week before earnings.</a> </li> 
 <li> <span>2</span> <a>PLUG stock price faced rejection from the 200-day EMA showing the trend is still down.</a> </li> 
 <li> <span>3</span> <a>Plug Power Inc. is expected to release its quarterly earnings on August 9, 2023.</a> </li> 
</ul> 
<p>Plug Power stock (NASDAQ: PLUG) faced rejection from $13.00 and corrected 20% (approx.) from the recent swing high. It showed signs of a short-term bearish trend reversal and prices witnessed profit booking ahead of Earnings.&nbsp;</p> 
<p>PLUG stock price tried to break out of the 200-day EMA to reverse the positional trend. Sadly, the attempt failed and prices reverted down. Presently, the stock price is near to the 50-day EMA and buyers are trying their best to bounce back.&nbsp;</p> 
<p>At the beginning of July, Plug Power stock price took support near $9.00 and showed a minor bounce. Later, slow and steady prices began to recover by forming higher high candles.&nbsp;</p> 
<p>Plug share price rallied 46% approx in the period of one month and created a positive hope for long-term investors.&nbsp;</p> 
<p>Moreover, the buying volume also increased substantially which further boosted the confidence of investors. However, the momentum halted near $13.00 and prices entered consolidation.&nbsp;</p> 
<p>Plug Power stock price closed the previous session at $10.91 with an intraday decline of -1.27%. The market capitalization stands at $6.55 Billion.</p> 
<h2 class="wp-block-heading" id="strong-plug-power-stock-prepares-to-react-in-quarterly-earnings-strong"><strong>Plug Power Stock prepares to react in Quarterly Earnings</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/whAAoQvDpJoTbtiv_8eZqhdPC8aHKMse4W8aILXk8NwcSYos-7jZe8bUOL_FgIx6y9eTj_rI3cDZ1YLx-CLdorEqd-iR7c-F29cjWv5edzR1pdsk46NncNSxuexP17bDJq3Bo8LtASTurVi_qEp9fw" alt="Plug Power Stock: Will PLUG Stock defend $10 and take a U-turn?"> 
  <figcaption class="wp-element-caption">
    NASDAQ: PLUG daily chart by <a href="https://www.tradingview.com/x/xYacMei6/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Plug Power stock (NASDAQ: PLUG) performed well in the past few months. But the investors seem to be cashing out their investment before earnings. The volatility in the stock may rise and the possibility of a sharp up or down move remains high.&nbsp;</p> 
<p>Plug Power Inc. will release the earnings today. Market analysts estimate an EPS of -0.266 and revenue of $237.719 Million.&nbsp;</p> 
<p>As per previous records, Plug Power is failing to meet the estimates from the past two years. So, the company might disappoint the investors again.&nbsp;</p> 
<p>The technical analysis suggests <a href="https://www.thecoinrepublic.com/2023/06/13/plug-stock-jumped-13-intraday-following-hydrogen-vs-ev-war/" rel="noopener noreferrer nofollow">PLUG stock</a> might show a short-term bounce but prices will face difficulty to hold the higher levels.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-plug-stock-price-analysis-on-weekly-time-frame-strong"><strong>PLUG Stock Price Analysis on Weekly Time Frame</strong></h3>  
<div class="tradingview-widget-container">
  &nbsp;&nbsp; 
 <div id="tradingview_9b78f"></div> &nbsp;&nbsp; 
 <div class="tradingview-widget-copyright"> <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a> 
 </div> &nbsp;&nbsp; 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp; 
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": 950,

  "height": 500,

  "symbol": "NASDAQ:PLUG",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "dark",

  "style": "1",

  "locale": "en",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;Supertrend"

  ],

  "container_id": "tradingview_9b78f"

}

  );

  </script> 
</div>  
<p>PLUG stock price formed a bearish hammer candle on the weekly time frame. The next direction in the <a href="https://www.thecoinrepublic.com/2023/06/13/plug-stock-jumped-13-intraday-following-hydrogen-vs-ev-war/" target="_blank" rel="noopener noreferrer nofollow">stock</a> will be visible after the earnings. If the buyers are able to hold the $10.00 support then a relief rally may trigger. Else, more downside will open.&nbsp;</p> 
<p>The MACD generated a negative crossover and the curve is sloping down indicating bearish momentum might continue. The RSI at 44 slopes down denotes weakness and a downside is possible.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Plug Power stock (NASDAQ: PLUG) is mildly bearish before the release of earnings. However, the Plug stock is near to crucial support, and a short squeeze might trigger anytime. The technical analysis suggests PLUG will succeed to defend the $10.00 support.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li><strong>Resistance levels:</strong> $12.00 and $13.47</li> 
 <li><strong>Support levels</strong>: $9.09 and $7.46</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Plug Power Stock: Will PLUG Stock defend $10 and take a U-turn?

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Thecoinrepublic.com

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