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Plug Power Falls 3.15% on Heavy Volume: Watch For Potential Rebound

By James Quinn

Plug Power (NASDAQ:PLUG) traded in a range yesterday that spanned from a low of $2.07 to a high of $2.24. Yesterday, the shares fell 3.1%, which took the trading range below the 3-day low of $2.16 on volume of 7.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Plug Power have traded between a low of $0.83 and a high of $2.98 and are now at $2.18, which is 163% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.4%.

SmarTrend recommended that subscribers consider buying shares of Plug Power on February 13th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1.19. Since that recommendation, shares of Plug Power have risen 87.3%. We continue to monitor PLUG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders plug power

Ticker(s): PLUG