The key indicator is volume.
Nearly 100 million shares traded today. The total float is, according to Yahoo, 213 million with another 80 million shares held in reserve. Shares that one day will become part of the float.
Either way it speaks volumes to my intent and that is volume. Its all how you look at it but either way the % of shares traded are very telling.
One way says approximately 43% of shares traded hands or the other suggests that 31% traded hands. They are both strong indications of desire. The demand is increasing and has been for the last week. Exponentially. .. and the supply remains static, for now.
The price of FCEL seems like it has no choice but to go up. The volume/demand pressure combined with the overall favorable sentiment of the hydrogen industry and the broader market getting a jolt from a record setting day. It feels undeniable.
The world is on the edge of its seat looking for miracles. A Miracle for Covid and a miracle for the impending environmental collapse due to ever increasing carbon emissions. With regards to the environment, Hydrogen seems like the golden child of green energy alternative including wind, solar and geothermal.
FCEL is at the base of a surging wave on a rising tide of hope. The inertia of these combined forces looks to take FCEL for one heck of a ride.
I think the underlying story behind todays price action and the continuation into after hours will only continue for the same reasons tomorrow. The jig is up and many eyes are on FCEL.
All this hopeful conjecture aside. I have been fooled before.
