Recent Price ActionPlug Power Inc.BATS:PLUGjeffreyrahhalAt last check, we were looking for PLUG to consolidate above 3.85 and break through 4.25, but we have since retreated. However, the retreat has been in sync with the overall market, and our overall trend remains to the upside, as seen by the orange trend line starting from the May 2025 lows. And on the weekly chart, we remain above the 20 and 50 SMAs, with the RSI at about 50 in neutral territory, and the MACD remains above the signal line and positive for the time being. The 50-day VWMA (dashed blue line) remains above the 50 SMA (solid blue line) on all 1H, 4H, 1D, and 1W charts. Looking at the pullback, we should first notice that this corrective move is occurring on low volume, typical for this time of year, confirming the move lacks institutional selling pressure. We see that since the last swing high of 4.35, we have returned to the 78% Fibonacci line, which also coincides with our 200-day SMA, that is sitting right on top of a large volume gap in our volume profile, and is around where we would expect the price to retreat on a pullback like this. Looking back now, all the way to around 2010 and following the 200-day SMA up to the present, we can see that there has been a strong reaction to the 200-day SMA each and every time the price has interacted at that level, with the most notable being in DEC 2018 where we dipped below the 200-day SMA and then went into a huge squeeze less than a year later, which saw the price go from $1.00-$75. So, at this time, I'm again looking for a touch or a dip below the 200-day SMA, and then watching for the reaction. I believe we may see a dip anywhere between 2.56 and 2.26, before this pullback reverses and we continue our trend upwards. I also believe that 2.26 is our make-or-break level, which coincides with the last large order block (in green) on our chart. If we fall below this price, we could go back to 1.70 or lower. For the time being, though, I see macro conditions as the driver of this recent pullback, and I believe the bull thesis for PLUG remains intact. PLUG