Technical Pulse: FuelCell Energy Inc January 6, 2021 784

FuelCell Energy Inc (US: FCEL) had an explosive rally since November 2020 and the technical suggests that FuelCell will have another round of upside:

  1. Since FuelCell broke out of the Pennant, the stock has corrected at 138.2% Fibonacci extension level. The hope of the bulls returning has appeared on Tuesday 5th Jan 2021 when the piercing line candlestick formation clear above the 38.2% Fibonacci retracement level from the base of the pennant at US$6.17-to the high at US$13.91. As such, there are some signs of a rebound ahead.
  2. The Ichimoku is showing slowing of momentum, especially when the current price is still trending below the Tenkan-Sen. However, the chikou-span has yet to clear below the candles and is showing some signs of rebounding. Another factor is that the Senkou-Span A is showing a strong upslope, indicating a stronger bullish trend ahead.


*Timeline of the trade is 3 weeks from the date issued.

*The bullish optimism will increase once prices breaks the 11.31 resistance level. Overall, the stock is still on the immediate uptrend.



Ichimoku Kinko Hyo

Red dotted line = 9 Periods Tenkan-Sen

Blue dotted line = 26 periods Kijun-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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