[46] BE, GLXY, NBIS
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First of the week! Let’s review a few names:
Bloom Energy Corporation (NYSE: BE)
Overall Comments: On the whole, BE is in a strong uptrend after its resistance breakout in between May -July last year. While higher timeframes are showing extreme overbought RSI and stochastics, BE is still undergoing price discovery, with the 1.618 Fib extension sitting at 234.04.
Timeframes Monthly: BE filled its 120-130 imbalance before pushing higher. Weekly: BE formed a bullish imbalance at 142-163 following this week’s trading. Closing over 170.88 next week will form another bullish imbalance, and provide a higher range should there be any rejection off the 1.618 Fib. Daily: Breakaway imbalance at 197.40, with price continuing to trade above this level although it has yet to retest it during cash session.
Outlook: If BE breaks above 234.04, then it could continue its price discovery into the 2.618 Fib at 373.49. If BE rejects off 234.04, then it could come back into 197.40. Below this, it could come back to flip prior resistance in the 170s.
Galaxy Digital Inc. (NASDAQ: GLXY)
Overall Comments: On the whole, GLXY has yet to form a new ATH in its history, which I assume to also include its OTC trading history before up-listing to the NASDAQ. However, it’s been in a stable uptrend since March 2020, respecting the dark green support trendline. Currently, GLXY is bounded below the red resistance trendline and forming lower highs.
Timeframes Yearly, Half-Yearly, Quarterly: The higher timeframes show that the 34-38 area has been a major multi-year resistance level since 2009. Monthly: Strong support at the 17.40 level, although the 16.11 imbalance remains unfilled. Weekly: Coming into the 27.42-27.91 weekly zone, with the lower bound being the imbalance fill and the upper bound being resistance. Daily: Rejection at the red resistance trendline is most apparent from the daily chart.
Outlook: If GLXY breaks above the red resistance trendline and the 27.42-27.91 weekly levels, then it can head towards the 29.96 Fib level next. Else, it likely retraces back into the dark green support trendline. If GLXY breaks above the 34-38 area, then it can see significant upside expansion towards the 1.618 Fib extension at 61.23. If GLXY breaks below the dark-green support trendline and the 14.77 Fib level, then it could see significant downside expansion.
Nebius Group N.V. (NASDAQ: NBIS)
Overall Comments: On the whole, NBIS is in a steady uptrend. It broke out above the 1.618 Fib extension at 134.80 before forming a new ATH at 168.71.
Timeframes Yearly, Half-Yearly: On track to form bullish imbalances on both timeframes at 73.52. Quarterly: Retested the 75.25 level before pushing higher. Monthly: Reclaimed the 94.63 level after consolidating below it for several months last year, which was key for the push higher. Weekly: Formed a breakaway imbalance from 109-142 following this week’s trading session. Daily: Closed below the 158.52 daily support, with an unfilled bullish imbalance sitting at 149.82.
Outlook: If NBIS reclaims the 158.52 level and turns it into support, it can retest the 168.71 prior ATH. Note that upon turning this 168.71 level into support, it can continue to push towards the 2.618 Fib extension at 211.97. If NBIS breaks below the 149.82 daily imbalance, then it can retest the 135-142 area, which would be a retest of the breakout. If NBIS breaks down below 134.80 and continues to trade below this level, then it increases the likelihood of the 108.96 weekly imbalance filling.
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$Bloom Energy Corp(BE)$ $Galaxy Digital Holdings Ltd.(GLXY)$ $NEBIUS(NBIS)$ $GameStop(GME)$ $Tesla Motors(TSLA)$
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