Hydrogen fuel cell company FuelCell Energy Inc (NASDAQ:FCEL) has come on to the radars of investors in a big way over the course of the past week or so and the trend continued yesterday as it ended the with gains of 6%.
Trading Data
On Wednesday, FCEL stock gained 6.42% to $4.81 with more than 18.48 million shares, compared to its average volume of 24.96 million shares. The stock moved within a range of $4.5400 – 4.8299 after opening trade at $4.63.
FuelCell Energy to Host Virtual Investor Day on March 16, 2022
However, in this context, it is perhaps also necessary to remember that the rally in the stock on Wednesday took the gains over the course of the past week to as much as 20%. In light of such strong gains, it may be the right time for investors to start taking a closer look at the stock at this point in time.
As a matter of fact, the stock was in the news yesterday after it announced that it was all set to arrange for a virtual investor day on March 16, 2020. The event is going to begin at 10 in the morning Eastern Time.
Such events can often prove to be quite important for investors and hence, it is easy to see why the FuelCell stock rallied as strongly on Wednesday. It may be a good idea now for investors to keep track of the stock and see if it continues to rally in the lead up to the big day or not.
Technical Data
FCEL stock is below the 50-Day and 200-Day Moving averages of $4.50 and $5.53 respectively. However, the stock is trading above the 20-Day moving average of $4.50.
