BUTTERFLY NETWORK INC (BFLY) Stock Technical Analysis
USA • New York Stock Exchange • NYSE:BFLY • US1241551027
We assign a technical rating of 5 out of 10 to BFLY. In the last year, BFLY was a medium performer in the overall market. The medium term is still looking fine, but we see some doubts in the very recent evolution.
- In the last month BFLY has a been trading in the 3.17 - 5.03 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been falling strongly lately, it is better to avoid new long positions here.
- BFLY is one of the better performing stocks in the Health Care Equipment & Supplies industry, it outperforms 83% of 186 stocks in the same industry.
- BFLY has an average volume of 5361880 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.
- When comparing the yearly performance of all stocks, we notice that BFLY is one of the better performing stocks in the market, outperforming 72% of all stocks. However, this relatively good performance is mostly due to a recent big move.
- BFLY is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so BFLY is lagging the market.
BFLY has an average technical rating and it also does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
2.07
When analyzing the support we can see 3 important areas.
- Support @3.22 from a horizontal line in the daily time frame.
- Support @2.49 from a trend line in the daily time frame.
- Support @2.09 from a trend line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for BFLY is up. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for BFLY is down. |
| ChartMill Relative Strength | 72.91 | POSITIVE | BFLY has a high relative strength, it outperformed 72.91% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of BFLY is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of BFLY is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BFLY is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 38.78 | NEUTRAL | The RSI value for BFLY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.16 | NEGATIVE | The MACD value suggests BFLY has a negative trend. |
| Stochastics (14,3) | 6.49 | OVERSOLD | The low Stochastics value suggests BFLY may be oversold. |
| Average True Range in percent/ATR (20) | 10.04 | HIGH VOLATILITY | The high ATR as a percentage value for BFLY suggests high volalility. |
| Average Directional Index/ADX (14) | 33.02 | POSITIVE | The high ADX value value for BFLY suggests a strong trend. |
3.38
+0.15 (+4.64%)
BUTTERFLY NETWORK INC / BFLY FAQ
Can you provide the ChartMill technical rating for BUTTERFLY NETWORK INC?
ChartMill assigns a technical rating of 5 / 10 to BFLY.
What is the current trend direction of BUTTERFLY NETWORK INC (BFLY) stock?
The current trend direction for BUTTERFLY NETWORK INC (BFLY) is Bullish.
What is the RSI signal for BUTTERFLY NETWORK INC (BFLY) stock?
BUTTERFLY NETWORK INC (BFLY) has an RSI value of 38.7818. This indicates that the stock is currently neutral.
What is the MACD signal for BFLY stock?
The MACD indicator for BUTTERFLY NETWORK INC (BFLY) has a value of -0.161726, indicating a bearish trend.
What is the short term momentum for BUTTERFLY NETWORK INC (BFLY) stock?
The short term momentum for BUTTERFLY NETWORK INC (BFLY) is negative.