FuelCell Energy Inc (FCEL)

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FuelCell Energy

FuelCell Energy (FCEL - Get Report), together its subsidiaries, designs, manufactures, sells, installs, operates and services stationary fuel cell power plants for distributed power generation. This stock is trading up 3% to $1.32 in Thursday's trading session.


Thursday's Range: $1.28-$1.33
52-Week Range: $1.05-$4.74
Thursday's Volume: 1.53 million
Three-Month Average Volume: 3.66 million

From a technical perspective, FCEL is trending higher here right above some key near-term support at $1.24 with decent upside volume flows. This stock has been uptrending for the last month and change, with shares moving higher from its low of $1.05 to its recent high of $1.40. During that uptrend, shares of FCEL have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of FCEL within range of triggering a major breakout trade above some key near-term overhead resistance levels. That trade will trigger if FCEL manages to take out its 50-day moving average of $1.33 and then once it clears some more key near-term overhead resistance levels at $1.36 to $1.40 with high volume.

Traders should now look for long-biased trades in FCEL as long as it's trending above some key near-term support at $1.24 and then once it sustains a move or close above those breakout levels with volume that registers near or above 3.66 million shares. If that breakout develops soon, then FCEL will set up to re-test or possibly take out its next major overhead resistance levels at $1.75 to $1.77, or even $1.83 to $2.

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