Plug Power Inc PLUG will be reporting its fourth-quarter earnings on Tuesday. Wall Street expects a loss of 23 cents a share and $263.17 million in revenues as the company reports before market hours.

The stock is down 59.72% over the past year, 33.26% year-to-date.

Let’s look at what the charts indicate for Plug Power stock and how the stock currently maps against Wall Street estimates.

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Plug Power Stock In A Bearish Rut Ahead Of Q4 Earnings

Chart created using Benzinga Pro

Plug Power stock, at $1.55, is stuck in a deep bearish rut, trading below all key moving averages. The eight-day, 20-day 50-day, and 200-day simple moving averages all flash bearish signals, with the 200-day average at $2.30 reinforcing the long-term downtrend.

The Moving Average Convergence Divergence (MACD) indicator at a negative 0.14 underscores the stock's weak momentum, while the Relative Strength Index (RSI) at 35.36 suggests Plug Power stock is nearing oversold territory but hasn't hit a technical bounce zone yet.

For investors, the technical setup remains firmly bearish, with little evidence of a reversal. While slight buying pressure is emerging, it's not enough to challenge the dominant downtrend.

A sustained move above short-term resistance levels could shift sentiment, but for now, the stock remains in the danger zone.

Plug Power Analysts See 82% Upside

Ratings & Consensus Estimates: The consensus analyst rating on Plug Power stock stands at a Buy currently with a price target of $4.99. Recent ratings from Seaport Global, Susquehanna and HC Wainwright & Co. imply an 81.61% upside for Plug Power stock, with an average price target of $2.83.

PLUG Price Action: Plug Power stock was trading down over 6.8% at $1.50 at the time of publication.

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