Bloom Energy | Parabolic Momentum?
Another renewable energy stock to put on your radar is Bloom Energy. As you are probably aware, there is a lot of interest for renewable energy stocks. Bloom Energy provides electricity for organizations on a global scale with solid-oxide fuel cell systems (fuel cells that run on natural gas for backup power and microgrid applications).
However, Bloom Energy Price Per Share (PPS) was almost 50% down in October. The significant retracement was highly affected by their Q3 2020 results. Bloom Energy reported a $200.3 million revenue and a loss of $12 million, whereby they delivered a 6.6% increase from 2020. However, Bloom Energy recovered and is back above its 50-day Moving Average. In addition, a bullish MACD crossed is formed which both indicates possible bullish momentum. Moreover, the Pfizer breakthrough caused that a lot of stocks surged, and Bloom Energy did exactly the same. If the vaccine will ensure that people can go back to the streets, demand for energy will rise along. Lastly, this stock is very interesting on the long-term. Business are getting more aware of Corporate Social Responsibility (CSR) and most likely to invest in the green energy in the future.
However, Bloom Energy Price Per Share (PPS) was almost 50% down in October. The significant retracement was highly affected by their Q3 2020 results. Bloom Energy reported a $200.3 million revenue and a loss of $12 million, whereby they delivered a 6.6% increase from 2020. However, Bloom Energy recovered and is back above its 50-day Moving Average. In addition, a bullish MACD crossed is formed which both indicates possible bullish momentum. Moreover, the Pfizer breakthrough caused that a lot of stocks surged, and Bloom Energy did exactly the same. If the vaccine will ensure that people can go back to the streets, demand for energy will rise along. Lastly, this stock is very interesting on the long-term. Business are getting more aware of Corporate Social Responsibility (CSR) and most likely to invest in the green energy in the future.
Disclaimer
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.