CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Plug Power stock soars after Morgan Stanley upgrade

17:58 13 October 2021

Plug Power (PLUG.US) stock surges more than 12.0% during today's session after an upgrade from Morgan Stanley which believes that hydrogen stock can jump more than 30%. Analysts upgraded PlugPower stock to overweight from equal weight and boosted their price target to $40 from $35. Analyst Stephen Byrd said the upgrade was driven by the company's upcoming investor day on Thursday, accelerating growth, legislative support and an attractive risk/reward profile. 

Plug Power also announced a new partnership with Airbus (AIR.FR) to decarbonize air travel and airport operations, with plans to select a U.S. airport as the first “hydrogen hub” pilot airport. Additionally, the company announced collaboration with Phillips 66 (PSX.US) on various hydrogen-related opportunities. Specifically, both companies plan to focus on:

  • Integrating and scaling low-carbon hydrogen in the industrial sector.
  • Advancing hydrogen fueling opportunities for the mobility sector.
  • Developing hydrogen-related infrastructure to support the build-out of the hydrogen value chain.

Plug Power (PLUG.US) stock launched today's session with a bullish price gap and is currently heading towards major resistance at $36.00 which coincides with 200 SMA (red line). Should a break higher occur, an upward move may accelerate towards next resistance at $ 40.30 which is marked with 38.2% Fibonacci retracement of the last downward wave launched in January. On the other hand, if sellers manage to regain control, the nearest support is located at $32.00 and coincides with 23.6% Fibonacci retracement. Source: xStation5

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