Has The Tide Turned For FuelCell Stock?

The tide may have finally turned for FuelCell Energy, Inc. FCEL. After trending lower since early June when shares reached $12, the stock has broken its downtrend line and could be ready to rally.

When stocks are trending lower, the bears are in charge. They overpower the bulls and push the price lower. When stocks are in rally mode, the bulls have control. They overpower the bears and drive the price higher.

See Also: Plug Power Vs. FuelCell: Which Clean Energy Stock Has Performed Better Over The Last Year?

The breaking of a downtrend line on a chart illustrates that the leadership may be changing from the bears to the bulls. And as you can see the red downtrend line on the following chart of FuelCell has broken.

This means the stock may be ready to rally.