BE📚Bloom Energy provides clean, cost-effective, AlwaysON electricity for organizations and communities. The Bloom Energy Server is an advanced distributed energy generation platform that operates 24x7 with the highest efficiency of any power solution available in the world today.In layman's terms, it provides buildings with power during grid outages and shortages. Preliminary outlooks for 2021 show 25% YoY revenue growth. Costs associated with fuel cell production have reduced by 60% in 2015, which will benefit Bloom in the long term - they predict costs to fall 10% to 15% annually. Bloom is operating in a $2 trillion total addressable market. Bloom claims that a solar PV facility, to provide 1MW of electricity, requires 12,500% more space than Bloom Energy's terminal. Blooms terminals produce 50% less CO2 and at a lower cost than grid energy. Fuel cell companies such as Bloom Energy have rallied significantly since Biden’s inauguration after his $2 trillion pledge to clean energy. Bloom Energy stock is down 25% over the past few trading days, possibly due to profit taken after the massive rcerecentnet rally, overall market weakness and the announcement that Norway is building its first large-scale fuel cell production facility.📈Price has recently gapped up above a strong resistance zone it had previously fallen below. Price has recently bounced from the support line of its bullish price channel it has been trading in since November - this occurred with a hammer candlestick which is a reversal candlestick. Price has also completed a 0.5 Fib retracement. Finally, there is some hidden bullish divergence, with the RSI making lower lows, but price making higher lows. If price continues its bullish trend to $47, this could see 48% upside.
🔎This is not financial advice. Always do your own research and due diligence. Always wait for directional confirmation before entering a trade.
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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.