FCEL has managed to breakout the wedge after a headfake and some flagging. One thing that troubled me was the negative accum-dist divergence during this leg up – the price went up but accumulation went down. But since breaking the DT line with volume, the accum-dist has begun rising so it may be less of an issue.
Down day today as it began the process of back-testing the DT line. There is a thin zone till the 2.41 neckline. On the monthly chart, 2.42 is also the 20 week MA. So the 2.40 area should be a magnet near term if the back-test of the DT line is successful.
The weekly chart clearly shows a classic cup and handle pattern with nice volume on the rising sections. The weekly MACD is positive and rising, and RSI rising at 62.44. The monthly MACD has a beautiful positive divergence. Overall it should be a nice setup for a long entry.