Chart of the Day: Bloom Energy’s Pullback Could Be Just What the Bulls Needed
It’s been tough to get on board this name but now there is finally an opportunity.
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When a stock gets hammered on heavy volume following a strong uptrend, like we see in Bloom Energy (BE), there is always some worry and doubt the trend is shifting. Remember, there are many tops when a stock is in an uptrend, but the only one that matters is the last one.
For a while Bloom ran wild, up from about the $150 basing period in the first quarter of 2026 to a spectacular rise up to all-time highs last month right under $350 per share. We added the name in April to our EPS All-Stars basket of TheStreet Pro Portfolio and continue to hold it for the third quarter of 2026.
The chart has turned down and looks bearish, but actually this seems to be a modest pullback following an aggressive run higher. No question the stock is volatile having fallen some 33% off the old highs. Further, there was a rumor out on July 8 that a firm put out a very negative piece about Bloom’s supply chain issues with China. This report was a catalyst to move the stock down hard on that day, but we believe this is a good chance to add shares as the report seems shallow and spotty at best.
The recent low around $235 looks to be firm; the stock is right near that area currently. MACD has rolled over and relative strength is poor, but after such a big fall it appears some buyers may be willing to step up here. The ADX (pane 4) is down, so perhaps the trend down is weakening.
As a member of the EPS All-Stars Bloom Energy does not have a rating.
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At the time of publication, TheStreet Pro Portfolio was long BE.
