Fernando_132

BE Bloom Energy Corporation - Observe carefully

NYSE:BE   BLOOM ENERGY CORPORATION
This 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.

Comments

The price is already under 19.45, 18.20 low so far and trading within the shadow of 10/6's bar that goes as low as 17.72, but if there is a test of a previous 4th wave that goes down to 15.96 and up to 16.09 on 10/2. Then there is a gap to 10/5's bar where the low is 16.49. If we fill the gap it could trade within 16.49 to 16.09.
Reply
sofiepearl pechi123
@pechi123, 15.16 now
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out