BE is breaking out on S&P 500 news; $300 is key resistance, $350 is next target if cleared.

Also, show favorite and trader favorite Bloom Energy also set to join. This has been an absolute monster recently. Uh even after its pullback to the 200 here, it actually provides some pretty good action. This looks like it's trying to break out.

Yeah, th this has been a classic buy buy the dip every time that you can in Bloom Energy. It it um and especially with with uh a friendly environment from the crypto side. So, yes.

All right, Brandon here says, "Bloom Energy has been very nice to me this year." Me, too. I don't know what it is, but my bot absolutely loves trading the stock. Cannot get enough of it.

Um you know, folks are are mentioning uh BE. Just go ahead and pull that one up and I'll just, you know, give some thoughts on it for you. Okay. Uh we've talked about BE quite a bit.

We talked about BE with the guest here earlier. It actually looks like it wants to break out. I can't wait to hear uh your thoughts here on be.

So, looks like this has some news this morning. I don't know if this is brand new news or if this was uh if this, you know, was something that we already knew about, but apparently Bloom Energy is going to be joining the S&P 500 replacing Molson Kors.

So a uh a very important I guess we'll say company dur for this uh type of year uh is uh getting knocked down to uh be moved uh out of the way for to make room for a battery uh or or yeah basically a battery company fuel cell company.

Um so I think that's what's uh initially getting this going here. That's why we had that big uh pop earlier this morning I believe.

this is a really nice uh couple of days move through the 50-day SMA, something we have not seen the uh top side of uh or closed above since um July 6th. Looks to me like the next resistance area is going to be around 300 because ever since we got up there, it is there has not been it's not been a great time uh for the the price to remain up there.

It's only, you know, maybe five days where this is actually in a row where this has actually closed above uh 300. Uh that was back in uh late June. Since then, nothing. We have not been able to uh get uh or hold above 300.

Every attempt to try to get back in there was rejected. We lost a 50-day in the process. So I think that what could happen next considering the that the RSI is getting a little high.

Um this may come up to 300. Maybe we see the uh you know the other side of 300 briefly. But I have this feeling that um we could that that high RSI could come uh into play here and it may you know keep the the the uh price from breaking out over 300.

Uh, alternatively, we could just, you know, break through 300 and go right to 350 and then we would be extended. But one way or the other, 300 is a very big uh support and resistance area.

It's it's resistance right now. We get through that, um, I think 350 is the the spot to break, but that's where I'm I see the price going next. We could see 300, might see 350, but as we get to these higher levels here at to those numbers, we're going to see this uh this particular stock be overextended.

The way I look at this is I think that the the getting from where we are now 271 to 300 is probably going to be a tougher ask than moving from 300 to 350 because to me it just looks like this is a little bit gappier and it looks like trading through this consolidation range might be a little bit more murky.

We took a look at BE.

That was from the after hours on Friday for Bloom Energy when that news was released.

Ah still struggling with that 93 area. Uh be getting mentioned here. Be this is approaching the Friday impulse candle that was on news of joining the S&P index.