Bloom Energy (BE) stock saw a positive improvement to its Relative Strength (RS) Rating on Monday, soaring from 63 to 97. The alternative energy firm announced that it would supply up to 1 gigawatt's worth of fuel cells to American Electric Power (AEP) to power their data centers.

This unique rating measures technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks matches up against all other stocks in our database.

History shows that the market's biggest winners often have an 80 or better RS Rating in the early stages of their moves.

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Is Bloom Energy Stock A Buy?

Bloom Energy stock is now considered extended and out of buy range after clearing a 13.54 buy point in a first-stage cup with handle. See if the energy stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.

The alternative energy company showed 0% earnings growth in the latest quarterly report, while sales growth came in at -17%.

Bloom Energy stock holds the No. 11 rank among its peers in the Energy-Alternative/Other industry group. Kenon Holdings (KEN), NET Power (NPWR) and GE Vernova (GEV) are among the top 5 highly rated stocks within the group.

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