Plug Power Stock Forecast: Continue Buying this Top Tech Stock

Plug Power Stock Forecast

I Know First supplies financial services, mainly through stock forecasts via their predictive algorithm. The algorithm incorporates a 15-year database, and utilizes it to predict the flow of money across 2000 markets. The self-learning algorithm uses artificial intelligence, predictive models based on artificial neural networks, and genetic algorithms to predict money movements within various markets.

The algorithm produces a forecast with a signal and a predictability indicator. The signal is the number in the middle of the box. The predictability is the number at the bottom of the box. At the top, a specific asset is identified. This format is consistent across all predictions. The middle number is indicative of strength and direction, not a price target. The bottom number, the predictability, signifies a confidence level.

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(Figure 1:PLUG forecast 29th May ’15)

I Know First has had success predicting the movement of Plug Power’s stock price in the past. In this one-month forecast from May 29th, Plug Power had a  bearish signal with a signal strength of -17.79 and a predictability indicator of 0. In accordance with the algorithm’s prediction, the stock price decreased by -10.07% during that time. In the forecast below, Plug Power had a strong signal strength of 170.34 and a predictability indicator of 0.32 for a three-month period. The stock price increased 6.67% like the algorithm predicted.

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(Figure 2: PLUG forecast Jan 16th ’15)

I Know First published a bullish article on Plug Power, a growing hydrogen and fuel cell power company, on Seeking Alpha. Having explained how I Know First’s algorithm works and providing an example of its success in the past, it is worthwhile to see if the algorithm agrees with the bullish fundamental analysis of the company. The three-month  forecast for Plug Power is included.

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(Figure 3: PLUG forecast 28th June ’15)

The above forecast is the most-recent forecast from June 28th 2015 and is for the long-term period of one year. This forecast is highly bullish, with a strong signal strength of 188.77 and predictability of 0.3. The algorithm correlates with the fundamental analysis where the general consensus is that via continuously increasing their revenue and expanding their market PLUG stocks are bound to rise in the long term. Power Plug’s current low stock price creates an opportunity to investors with tremendous upside potential.

Positive signal strength does not mean investors should automatically buy the stock. Dr. Roitman, who created the algorithm, created rules for entry for a stock such as Gilead Sciences. Using this trading strategy, an investor should buy a stock if the last 5 signal strength’s average is positive and if the last closing price is above the 5-day moving average price. When both of these conditions are met, it is a good time to initiate a position in the stock.