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FCEL At Resistance/Price Target, On Watch for Breakout

FCEL (FuelCell Energy Inc) was a recent official long swing trade that hit the final (official) target a few weeks ago for a 38% gain. In that last update when the final official target was hit, it was stated that the charts still appeared constructive & that one could raise stops in lieu of booking profits. Today the stock has essentially hit the 1.50 resistance/target, now up 55% from the entry on May 30th, where the odds for a reaction are elevated. However, the charts remain constructive so an impulsive break above 1.50 is likely to be the catalyst for a move up to the 1.83-1.96 resistance zone. Should the stock pullback here, objective entries or add-ons would be just above the 1.34 and/or 1.20 support levels. Previous & updated daily charts:

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Jul 17, 2017 12:03pm|Categories: Unofficial Long Ideas|Tags: |0 Comments

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