Rationale & Thesis
This is a technical short trade on Bloom Energy (BE), based on a clear rejection of a key resistance level. The thesis is that the upward momentum has exhausted itself, and the price is now positioned to move toward a significant support zone. This trade aims to capture the downward movement from this confirmed high, following the path of a new downward trend.
he recent price action of BE shows that the stock's rally has met a critical barrier. The price has surged to a major resistance trendline and has been firmly rejected. This rejection is clearly marked by the red arrow on the chart, indicating a high-probability reversal as sellers regain control.
Trade Idea:
Entry Signal: The short position is initiated at the price level of the red arrow, following the validation of resistance.
Exit Strategy: The primary profit target is set at the green support line, located at approximately $56.37.
This is a technical short trade on Bloom Energy (BE), based on a clear rejection of a key resistance level. The thesis is that the upward momentum has exhausted itself, and the price is now positioned to move toward a significant support zone. This trade aims to capture the downward movement from this confirmed high, following the path of a new downward trend.
he recent price action of BE shows that the stock's rally has met a critical barrier. The price has surged to a major resistance trendline and has been firmly rejected. This rejection is clearly marked by the red arrow on the chart, indicating a high-probability reversal as sellers regain control.
Trade Idea:
Entry Signal: The short position is initiated at the price level of the red arrow, following the validation of resistance.
Exit Strategy: The primary profit target is set at the green support line, located at approximately $56.37.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
GoldenTraders is a premier trading community dedicated to helping you navigate the complexities of the financial markets with confidence and clarity.
Please join for more trade Ideas.
GoldenTraders: discord.gg/nrCvUT8yzt
Please join for more trade Ideas.
GoldenTraders: discord.gg/nrCvUT8yzt
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.