February 24, 2024

Pineapple Energy breaks through Double Top

(24/7 MARKET NEWS) – Pineapple Energy Inc. (NASDAQ:PEGY) has pulled back, after finally breaking through the $5 level, which is failed to do on its previous attempts, yesterday and last week.

Pineapple Energy opened at $4.23, ran to hit a high of $5.07, pulled back, on low volume, and is now trading at $4.7398, up $0.3398 (+7.72%), on volume of over 9 million shares traded today.

With a 52-week range of $0.7601 to 34.20 and its current power move higher, Pineapple Energy is now trading in a range that it hasn’t seen since April and has an opportunity to break through weaker resistance points. However, we remain cautious about how management may follow many other companies that have announced new financing agreements during recent runs, so trading around a core position may be wisest.

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