BE trade ideas
Bloom Energy | Parabolic Momentum?Another renewable energy stock to put on your radar is Bloom Energy. As you are probably aware, there is a lot of interest for renewable energy stocks. Bloom Energy provides electricity for organizations on a global scale with solid-oxide fuel cell systems (fuel cells that run on natural gas for backup power and microgrid applications).
However, Bloom Energy Price Per Share (PPS) was almost 50% down in October. The significant retracement was highly affected by their Q3 2020 results. Bloom Energy reported a $200.3 million revenue and a loss of $12 million, whereby they delivered a 6.6% increase from 2020. However, Bloom Energy recovered and is back above its 50-day Moving Average. In addition, a bullish MACD crossed is formed which both indicates possible bullish momentum. Moreover, the Pfizer breakthrough caused that a lot of stocks surged, and Bloom Energy did exactly the same. If the vaccine will ensure that people can go back to the streets, demand for energy will rise along. Lastly, this stock is very interesting on the long-term. Business are getting more aware of Corporate Social Responsibility (CSR) and most likely to invest in the green energy in the future.
BE Bloom Energy Corporation - Observe carefullyThis analysis is backed on Wyckoff ideas, technical analysis and overall market behavior.
BE is performing well since March 18th and 19th, it bounced over 2.94 both days, and since then it has been running up until July 16th. This day demand hit a wall, and that was reflected on the volume bar, which is one of the greatest volumes since January; this means that the stock got lateralised between the 19.50 to 11.69 (both rectangles). This represents an accumulation that has extended in time until October 6th , this day price "jumped over the creek" with a great volume that reflects demand supporting the movement. And until now it has been running up a few days, but with low volume , which means that the uptrend is going to go down (there's no one supporting the movement).
With all this past information, we can set out two thesis.
A) Prices will go down to the 19.45 area and pullback.
B) Prices will stop dropping down in the 21.69 area and pullback (a month support).
If no one of the thesis take place, prices would drop even further and we will have to look for a new support (mainly the gray lines which are monthly and weekly supports) But if not, we hope to see in the next few days a pullback to (19.45 or 21.69) in order to maintain the trend until prices hit a new resistance (which could be the 26.73 area, a month support)
This is just a global overview of the last days of BE. But all the most important info is in the chart.
Regards and have a great trade.
BLOOM ENERGY STAR STEPLT
HHHL + Y1<Y2 + POWER UP
W&R SUCCESS
STAR STEP
ST
LHHL = sideway
no direction yet
TP @ 21.87
SL @ 13.43
BE - nice bullish triangleNYSE:BE is showing a bullish triangle setup. Resistance at 18,5 $, strong support below and the 20 day moving average is also there to limit downside risks.
ADX is strong, +DI is positive - Momentum is built
RSI is neutral
BE poised to break out from ascending triangle ascending triangle
OBV is ticking up
low volume pull backs on red days.
targeting $20 in medium term.
115% Profit Potential - 1:1.15 RRThere may be a short term retracement/consolidation period before moving to the upside but period should be limited due to elevated short float.
Trade: Active
Entry: 17
Stop: 2.99
Target1: 37.53 (50% of Position)
Target2: 49.04 (50% of Position)
Notes: If T1 is hit, stop loss for remaining position size of 50% will be moved up to 26
Personal Log
BLOOM ENERGY CORPORATION Estimates DailyHey traders, BLOOM ENERGY CORPORATION is in a fake bearish movement with a sales volume made we can see a shadow of the by sellers. BLOOM ENERGY CORPORATION is looking to turn around for a very big potential rise to reach its next higher, which is at the top of the shadow and we can even witness the returns of buyers to go to the area of the next median.
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An insider bought a large amount of stock.an insider bought a large amount of stock.
Jeff Immelt, former CEO of GE, was the person who acquired 70,000 shares of stock at an average price of $14.86 per share for more than $1 million in purchases.
The reason Immelt's purchase is so notable is because he is on the Board of Directors at Bloom Energy. As a board member, Immelt invariably gets inside information about the company's direction; the fact that he was bullish enough to put $1 million of his own money behind the company is seen as a good sign.
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4-K sec fillings sec.report
On the door steps of big move?All in the chart .Thanks for your time.Please comment .
P.S.I am not abandoning my previous chart about 2nd wave of covid 19 (that one so far was a miss),but my all other BE charts are relatively accurate, please review and play if you wish-links are below.
BE to 12$seekingalpha.com
They just made an agreement to form a cell powered ship to reduce carbon emissions. Thats awesome but when it will come true is a tough one. Long term this will probably be a good buy. My expectation for their next high is 12$. It rallied today and hopefully no one sells tomorrow but the volume increased today so that showed a nice interest. If it pulls back im looking for a bounce at 9.66 to see if it can hold as new support. If it holds and bounces back up then hopefully it can surpass its daily high (june 30th) at 11.07. Its a good stock and energy is always a good buy but I wouldnt hop in until we get that new support. Thats all though.
Good luck
trade smart
this is not financial advice. I am new and I am learning. apologies if this does not come true :)
also note not seeing any bullish patterns so that is why im waiting for a new support
