FuelCell Energy Inc. FCEL shares were trading lower Tuesday in the wake of a worse-than-expected first-quarter earnings report.
FuelCell Short-Term Chart Analysis: In light of Tuesday's earnings report, the stock may be considered bearish in the short term.
The stock shows potential resistance near $18.50 and potential support near $15 on the 5-minute chart above.
The stock is trading below the 200-day moving average (blue) and above the VWAP (pink).
The price trading below the 200-day moving average brings a bearish sentiment to technical traders. These levels may also show resistance if the price is able to reach these indicators. The VWAP could potentially hold as a support level if the price were to fall.
FuelCell Daily Chart Analysis: In the chart above, the stock looks to be trading in a channel between the white arrows.
The bottom arrow is near the price of $12 and the top arrow is near the price of $18.
The stock may potentially be forming what technical traders may call a reverse head-and-shoulders pattern. This pattern is considered a reversal pattern. The stock would need to rise to confirm the pattern.
Bulls would like to see the pattern confirm and the price rise above the $18 level. Bears would like to see the pattern fail and the price fall through the $12 level.
FCEL Price Action: The stock is trading with a market cap of $5.55 billion and a public float of 309 million shares.
The stock was down 4.99% at $16.18 at last check.
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