This was once one of the gems of the tech. bubble in 2000. Their fuel cell technology is based on burning hydrogen, which we all know results in water. Very clean, efficient and so on if you do not first ask where the hydrogen comes from! The other problem is the weight. These cells do not fit in a standard Fiat 500. Anyway, for some reason (Tesla’s success maybe?), interest in this company has shot up recently. We have absolutely no idea where this is going, or why. But , using EW we suspect it will go to about $9.50 with a lot of little ups and downs at about this level. A similar conclusion can be arrived at if you follow the “gap in the middle” concept. The stock is already going vertically up so a stop-loss is , in any event, advisable.
To put this in historic perspective, this stock has the ability to go much higher as well as much lower. It all depends on what timeframe you chose. Below is the 20 year chart with a high somewhere in the order of $170 or so.
