Million

Resistance

Billion

<ul class="list-ic vertical">
 <li><span>1</span> <a>PLUG stock has been declining constantly and lost over 7% of its price in a week.&nbsp;</a></li>
 <li><span>2</span> <a>At press time, PLUG stock was trading at $5.90 which is smaller than 20, 50, 100 and 200-day EMA.&nbsp;</a></li>
 <li><span>3</span> <a>Plug Power, Inc. has lost 50% of its market capitalization till the second quarter of 2023.</a></li>
</ul>
<p>PLUG stock has been in trouble for the past few months and lost over 7% of its trading price in a week and 23.28% in a month. When writing, Plug Power Inc. stock was trading below 20,50,100, and 200-day EMA.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-plug-stock-price-analysis-strong"><strong>PLUG Stock Price Analysis&nbsp;</strong></h2>
<p>In the 52-week time frame, PLUG stock price peaked at $18.88 and its lowest trading price was $5.78. The annual price target of the stock is $14.80 which is 150% greater than its press time trading price.&nbsp;</p>
<p>Plug Power Inc. has a market capitalization of $3.552 Billion and data from companiesmarketcap(dot)com states that a sharp decline of 50.74% is seen in the market cap of the company in 2023.</p>
<p>The trading volume of PLUG shares reflects that buyers are falling to control the stock price and bears are constantly dragging the prices downwards. Despite weekly, monthly, and quarterly declines, PLUG stock is expected to open 2.03% above its previous closing.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter is-resized"><img decoding="async" src="https://lh7-us.googleusercontent.com/q1RHUE1OWTzRe-kBiTvimz6xQsNUjJ7Uhh6Nij8k5IopHriHeoJxYa3hmkazkVeXWlxGNGdrGV8zOCDY4mAmIhRYFU6IOoTYIDZwcUa9ISH8SIyHRe6WlyOxuDUYYf9g-EJzB6nc5mw-cQ-bFcpZEuU" alt="Following MACD Might Trouble PLUG Stock More; Decline Expected" style="aspect-ratio:1.8914185639229422;width: 100%;height:auto">
  <figcaption class="wp-element-caption">
   Source: PLUG stock price chart from <a href="https://www.tradingview.com/x/IRsPRFQS/" rel="noopener noreferrer nofollow">TradingView&nbsp;</a>
  </figcaption>
 </figure>
</div>
<p>The MACD and signal line are reflecting bearish momentum and as its motion is continuing towards the bearish region further declines in the trading <a href="https://www.thecoinrepublic.com/2023/10/30/chwy-stock-price-shares-down-52-in-2-months-whats-ahead/" rel="noopener noreferrer nofollow">price </a>are expected.&nbsp;</p>
<p>The RSI line is moving just adjacent to the boundary line of the bears’ territory. A major decline in the trading price was observed on October 20 when bears were more active over bulls.&nbsp;</p>
<p>Data from TradingView states that 536.077 Million PLUG shares are free-floating and the remaining 65.895 Million shares are closely held.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-plug-power-inc-plug-financial-updates-strong"><strong>Plug Power, Inc (PLUG) Financial Updates&nbsp;</strong></h3>
<p>In Q2 2023, Plug Power was supposed to report $237.72 Million in revenue; However, the company met the estimates and reported 9.45% more revenue than estimated. The reported EPS of the company was disrupting the holders as it slipped 50.20% and failed to meet estimates.&nbsp;</p>
<p>For the third quarter of 2023, the company is expected to report a negative $0.31 in EPS and revenue is $229.42 Million. In the long term, total liabilities of the company are $1.07 Billion and assets are $2.46 Billion.&nbsp;</p>
<p>In the financial year 2022, the overall reported revenue of the company was $701.44 Million from which its net income was negative $724.01 Million and profit margin was negative 103.22%.&nbsp;</p>
<h4 class="wp-block-heading"><strong>Technical Levels&nbsp;</strong></h4>
<p>Support Level: $5.78 &amp; $5.40</p>
<p>Resistance Level: $6.47 &amp; $6.77</p>
<h4 class="wp-block-heading"><strong>Conclusion:</strong>&nbsp;</h4>
<p>In the past few months PLUG stock price seems to be struggling below $10 and when writing, it was trading at $5.90 with an intraday decline of 5.75%. From the moving MACD and RSI, it is observed that a further decline in the trading price is expected and if it continues to fall it will soon register its new 52-week low.&nbsp;</p>
<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 ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Following MACD Might Trouble PLUG Stock More; Decline Expected

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