FuelCell Energy Inc (FCEL)

[hopester]

The candles and my bar chart confirm each other . The stock is Overbought. Less so with the drop yesterday but still O/B.
The historical record of its validity lies in the charts and performance..
What I've witnessed is a snapback to near the underside of the high made yesterdat before the next drop. My inclination would be to cover all or part those shorts if it opens lower today.
The whole group including the leaders Plug and Bloom are as wellOverbought. The group will act as one until the market separates the weak from the strong. Both Plug and Bloom are the Leaders. Fcel ; the laggard in the hydrogen space. FCEL hasn't produced a single new contract in 9 months. Even Groton, lauded as the big kahuna has not announced completion. Why not ???
Could there be another delay or is Few not interested in updating his shareholders. Other work has not borne fruit... Posche,for example was to be an enormous sales source. Have you heard of one since the lawsuit settled months ago?
The 95,000,000 share dilutive offering will hang over the stock until it can prove its worth. It'll cap any effort for the stock to move higher IMO.
The market pays attention to facts; not assumption which never materialize or hype that doesn't deliver.