Clean Energy Fuels Corp (NASDAQ: CLNE) shares fell more than 5% on Wednesday morning to extend the current 5-day decline to 17%. Buying Clean Energy Fuels stock now is looking attractive as CLNE approaches oversold territory and a potential rebound is imminent.
CLNE is currently on the list of the top 10 Reddit stocks, implying the stock can experience large gains over the short-term. If you think that the losing streak is overdone and CLNE is ready to rebound but you aren’t sure how and where to buy Clean Energy Fuels stock now, this guide is for you.
Where and how to buy Clean Energy Fuels shares?
Buying Clean Energy Fuels stock is very straightforward and requires minimal effort. All you have to do is register and verify an account with a reliable online stockbroker. After funding your account, just look for the relevant ticker (CLNE) and click on the buy button.
But now you are asking what is the best broker to buy Clean Energy Fuels. We got you covered. Our experts have already done the testing for you. We have determined that these are the safest and most reliable brokers to invest in Clean Energy Fuels now.
CedarFX
CedarFX is an eco-conscious broker offering 0% commission trading on 170+ assets, including Forex, Cryptocurrency Pairs, Stocks, Indices and Commodities. With up to 1:500 leverage, no-fee transactions and low spreads, traders can make the most of their funds. CedarFX also offers an Eco Account option to support tree planting and sustainability projects.
Register with CedarFX instantly
eToro
eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, ETF’s, indices and commodities. eToro users can connect with, learn from, and copy or get copied by other users. Buying stocks on eToro is free and you can invest with as little as $50.
What is CLNE stock?
The meme stock opened at $10.77 per share on Wednesday and is currently exchanging hands at $10.46 per share. This compares to its year-to-date high of $18.64 per share in early February. Clean Energy Fuels had started the year at a per-share price of a much lower $7.83 per share.
CLNE performed massively upbeat in the stock market last year with an annual gain of about 200%. At the time of writing, the California-based company has a market cap of $2.12 billion.
CLNE stock technical analysis: approaching oversold conditions
CLNE stock price is closer to the oversold levels of the 14-hour RSI in the 60-min chart after Wednedsay’s decline. The stock is also comfortably above key support levels of $9.08 and $7.45 so there is reason to believe further downside is limited.
Clean Energy Fuels stock is also trading above the 100-hour moving average and despite recent weakness, shares are still higher by 25% over the past month and 350% over the past year. Short-term and swing investors looking to buy CLNE stock now can target rebound profits at $12.52 and $14.51 which coincide with resistance levels.
Investors that are looking for even higher returns should hold on to CLNE stock until it retests its prior highs just shy of $20 per share.
CLNE stock outlook: EPS growth in 2022
CLNE earnings per share will decline by 149% this year before bouncing back 100% next year. Therefore, this year’s earnings decline may be less relevant to the stock’s performance in the short term.
Perhaps more important than evaluating Clean Energy Fuels’ 2022 outlook is the fact that it is still one of the hottest meme stocks. As we have seen over and over again in recent months, fundamental and technical analysis takes a back seat to hype and momentum.
Social media reacts
The post How to buy Clean Energy Fuels stock as CLNE enters oversold conditions appeared first on Invezz.
from USA – Invezz https://ift.tt/3q1sICd
Wajeeh Khan
Click here to Join RICH DAD SUMMIT online with ROBERT KIYOSAKI - $1 Training for Passive Income: https://bit.ly/RichDadSummitWealthTraining
0 Comments