$BE Watchlist Study: 6 Setups, 0 Trades 🔎
Sometimes the best trade is simply watching the price action evolve until the setup becomes actionable.
$Bloom Energy Corp(BE)$ is a great example. Over the past few weeks, I’ve gone through 6 separate thought processes with 0 trades and 0 stop losses, while price continues to build and prove its resilience beneath the base.
The bigger setup remains a potential 3-month-high breakout/retest, with the stock still roughly 20% below its all-time high.
Here’s how the setup evolved:
1️⃣ Sept. 17 — Higher low + bullish flag
A second higher low followed the Sept. 3–8 +25% flag pole, but the move came on low RVOL. Not actionable, and the breakout eventually failed.
2️⃣ Sept. 22 — Higher low rebuild
$BE reclaimed the 10-MA after the Sept. 18 plunge and options expiration. The flag structure remained intact, but RVOL was still missing.
3️⃣ Sept. 24 — Gap-down test
A gap-down open created a potential watchlist removal if gap resistance failed to reclaim. The gap was immediately filled the following day.
4️⃣ Sept. 29 — Wider-range higher low
Another higher-low attempt developed, but the price range expanded beyond ATR from the low of day. Even with RVOL, the setup wasn't actionable.
5️⃣ Sept. 30 — Another rebuild
A sharp pullback followed the Sept. 29 move, but $BE once again began rebuilding a higher low.
6️⃣ Oct. 5 — The setup I’m watching now
From Sept. 28 through Oct. 5, price rebuilt a higher low along an ascending trendline with the 20-MA rising underneath.
That’s the structure I’m looking for if potential exposure develops.
The key lesson: stalking a setup doesn't mean forcing a trade.
$BE continues to show very strong relative strength, meeting 5 of the 7 CANSLIM criteria, particularly on the weekly chart where it is forming an ongoing 3rd-week tight.
Six observations. Zero trades. The setup is still developing. 👀
Markets are always moving - and sometimes, the best move is knowing what works for you.
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