Will FuelCell Energy See A Long-Term Reversal Or A Dead Cat Bounce? A Technical Analysis
Portfolio Pulse from Melanie Schaffer
FuelCell Energy, Inc (NASDAQ:FCEL) saw a spike of over 6% on Friday morning, continuing its bullish momentum after negating a bear flag pattern on Wednesday. The stock has surged about 20% since July 7 due to general market strength caused by a lower-than-expected June inflation report. However, the stock was falling to near flat on July 14, indicating a possible local top. The stock has declined about 92% since its all-time high of $29.44 on Feb. 10, 2021. The future trend of the stock will be determined by whether it can break up from a descending trend line that’s been holding it down since Feb. 3.
July 14, 2023 | 3:23 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
FuelCell Energy's stock has surged about 20% since July 7, but was falling to near flat on July 14, indicating a possible local top. The future trend of the stock will be determined by whether it can break up from a descending trend line.
The stock has shown a bullish momentum recently, but the recent fall to near flat indicates a possible local top. The future trend of the stock will be determined by whether it can break up from a descending trend line that’s been holding it down since Feb. 3. This could potentially impact the stock's short-term performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100