$BE Up 2,318% in 700 Days, Now Comes the Critical Test
$Bloom Energy Corp(BE)$ is up over 2,318% in the 700 days since its bull cycle started back in November 2024.
Now it’s trading in an extremely important zone.
Here’s what I’m seeing. 📈
The Cycle
The cycle could be coming to an end. The monthly BX Trender is flipping from green to red.
But there are two things to note. First, the monthly BX Trender hasn’t closed for October yet. We still have a couple of weeks left. Second, and more importantly, earnings are coming up, and that will obviously move the stock. A good report could flip the monthly BX back to green and keep the cycle going.
So technically this is still bullish, just leaning more toward a potential end of the cycle. Nothing’s confirmed yet.
Structure
Structure matters more than the cycle itself.
On the weekly, price bounced right off the weekly smart money zone on July 29th, when it was trading around $160. We called out that setup on our X account as a good spot to buy long term, and the stock bounced right off the level, which is exactly what we want to see. Weekly structure is still bullish.
The daily is now in bullish structure too. We have a clear swing low at $197.50 and a clear swing high at $302.35, which puts price right in the short-term smart money zone.
So short term, we have a very good upside setup. Long term, we’re not at the deepest discount, but the price is still relatively good.
My Take
Within my strategy, this technically counts as a buying opportunity.
The main reason I’m personally staying away is that I didn’t trade most of this run. I didn’t trade the December 2025 breakout off smart money or the March 2026 breakout off the institutional buy zone, so chasing here feels a little late. If I’d already traded it and had profits baked in, I’d have no issue taking the trade right now.
Targets
Heading into earnings, my short-term upside target for the next 30 days is $300. For the next 60 days, it’s $360 or all-time highs.
The Downside
To stay objective, we have to look at the downside too. If the daily swing low at $197.50 breaks, that’s an internal support change. From there, price would likely sell off another 20% back down to the weekly smart money zone at $160.
Markets are always moving - and sometimes, the best move is knowing what works for you.
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