BE support zone 290 hit

Support zone: close above is a hit. Close on the level is a push. Graded on the regular-session close.

A support zone is a price below the market where a large amount of options positioning sits. The idea is that this positioning can slow a move down there, so the test is simple: does the stock close above it? When it was posted at 10:30 ET, BE traded at 301.23, 3.9% above the support zone. On the same map, the next level above was 300 and the next level below was 260. See the original post.

Price traded through the support zone during the session (first 5-minute close on the wrong side at 9:30 AM ET), with a low of 280.50 and a high of 301.23. In the last hour price moved down 13.25, from 293.75 to 280.50.

The regular-session close was 291.28, 1.28 (0.44%) above the support zone at 290. Under the rule (support zone: close above is a hit), that is a hit.

Bloom Energy rebounded after a sharp selloff the prior session, as fuel-cell stocks reversed higher; coverage cited a reiterated analyst Outperform rating tied to its Fremont manufacturing expansion and reassurance about a large data-center project. BE finished the day up 10.8%, while SPY was down 0.2%.

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