Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>PLUG stock price is setting base above the $8 mark.</a> </li> 
 <li> <span>2</span> <a>Plug power has witnessed bearish pressure in recent times.</a> </li> 
</ul> 
<p>PLUG stock is presently witnessing a weak bearish momentum on the daily technical charts. On the daily chart, the share price is seeing a strong shorting. PLUG power is currently trading near the value of $8.73, with a gain of 6.33% intraday.</p> 
<p>Meanwhile, the support of the share price is near $7.50. PLUG price is currently beneath the 100 and 200-day EMAs. If the price surges beyond the 200-day EMA, then a strong upside trend could be seen in the future.</p> 
<p>PLUG stock price prediction indicates that the stock price is presently within the firm grasp of the bears. Despite making several attempts within the past few months, the buyers have not been successful in smashing the price above its essential resistance levels near 50, 100, and 200 EMAs on the 1-day chart.</p> 
<p>The technical indicators favor the bears projecting a pessimistic perspective for the buyers. RSI and stochastic RSI oscillators are moving near the overbought zone, whereas the major EMA lines are acting as barrier points for PLUG power price.</p> 
<p>The company has shown poor performance so far this year. Year-to-date it gave negative returns of -31.31% and -25.19% in the span of 6 months. In the last 1 month, it gave a negative return of -5.01% and a positive 5.82% return in the last seven days. Indicating a long Bearish trend continuing till now.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-plug-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of PLUG Stock Price in 1-D Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="466" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-448-1024x466.png" alt="" class="wp-image-168300" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-448-1024x466.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-448-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-448-768x349.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-448-750x341.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-448-1140x519.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-448.png 1433w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: PLUG.1D.NASDAQ by TradingView
  </figcaption>
 </figure>
</div> 
<p>PLUG stock (NASDAQ: PLUG power) is trading under the 50 and 200-day DMAs (Daily moving averages), which do not uphold the price trend.&nbsp;</p> 
<p>Nevertheless, if more selling volume adds up in stock then new lower levels could be achieved in the coming weeks. The price might smash new lows by making lower highs and lows. Hence, the PLUG power price is expected to move downwards giving bearish views over the daily time frame chart.</p> 
<p>The current value of RSI is 47.51 points. The 14 SMA is above the median line at 37.82 points which indicates that the PLUG stock is mildly bullish.</p> 
<p>The MACD line at -0.4471 and the signal line at -0.5567 are heading towards the zero line. A bullish crossover is observed in the MACD indicator which signals more mild bullishness for the PLUG power <a href="https://www.thecoinrepublic.com/2023/09/14/gm-stock-will-general-motors-stock-reach-the-40-level/" target="_blank" rel="noreferrer noopener">stock price.</a></p> 
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3> 
<p>PLUG (NASDAQ: PLUG power) technical oscillators also support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the PLUG power stock price. PLUG price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> $6.44 and $4.41</li> 
 <li><strong>Resistance Levels:</strong> $9.80 and $11.83</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis delivered in this article is for informational and educational objectives only. Do not depend on this information as financial, investment, or trading recommendations. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.</p>

PLUG Stock: Is Plug Power Stock Preparing to Fly Above $10?

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