Good morning,
I began the last post with touting PLUG. I entered plug long due to the ascending triangle and set my stop loss just outside the 50-day moving average. The last 3 sessions have been bearish. The first 30 to 45 minutes the market lets it run then spends the remainder of the day pushing it down. In the last half hour the sellers back off and it climbs back to an almost negligible loss. I fear with the declining volume and the strength of the upper resistances (ie. $.42, and $.45) I may be stopped out today. It is my experience that resistances do not hold up forever. The price action has bounced off the 50-day moving average 3 times in the last 10 days. Watch closely for some much needed news.
On a brighter note precious metals rallied yesterday and are aiding small cap mining stocks. GPL, GSS, and BRD have all closed above resistance due to yesterdays rally. I would recommend watching for a pullback to a support level.
As always good luck trading,
Trader43
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