Bloom Energy Corporation Stock Forecast

Big movements in Bloom Energy Corporation stock price on Friday moving 12.68% between high and low
(Updated on Apr 26, 2024)

BE Signals & Forecast

The Bloom Energy Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $9.76 and $10.43. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -10.77%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Bloom Energy Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $9.88 and $9.63. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Bloom Energy Corporation finds support just below today's level at $9.88. If this is broken, then the next support from accumulated volume will be at $9.63 and $9.03.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.20 between high and low, or 12.68%. For the last week, the stock has had daily average volatility of 7.83%.

Our recommended stop-loss: $9.99 (-5.75%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 13 days ago.)

Trading Expectations (BE) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Bloom Energy Corporation to open at $10.24, and during the day (based on 14 day Average True Range), to move between $9.96 and $11.24, which gives a possible trading interval of +/-$0.641 (+/-6.05%) up or down from last closing price. If Bloom Energy Corporation takes out the full calculated possible swing range there will be an estimated 12.10% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $10.80 (1.89%) than the support at $9.88 (6.79%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Bloom Energy Corporation stock A Buy?

Bloom Energy Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.947 Hold/Accumulate Upgraded

Predicted Opening Price for Bloom Energy Corporation of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.