BUTTERFLY NETWORK INC (BFLY) Stock Technical Analysis
USA - NYSE:BFLY - US1241551027 - Common Stock
2.36 USD
+0.07 (+3.06%)
2.36 USD
0 (0%)
Taking everything into account, BFLY scores 9 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, BFLY is showing a nice and steady performance.
BFLY is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
Both the short term and long term trends are positive. This is a very positive sign.
BFLY is part of the Health Care Equipment & Supplies industry. There are 191 other stocks in this industry. BFLY outperforms 83% of them.
BFLY has an average volume of 5119870 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, BFLY did better than 86% of all other stocks. However, this overall performance is mostly based on the strong move around 10 months ago.
In the last month BFLY has a been trading in the 1.66 - 2.79 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although BFLY has an excellent technical rating, it does not present a decent entry opportunity 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
1.40
2.72
When analyzing the support we can see 3 important areas.
- A support zone ranging from 2.27 to 2.27. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @2.10 from a trend line in the daily time frame.
- Support @1.41 from a trend line in the weekly time frame.
We can see 3 important resistance areas.
- A resistance zone ranging from 2.37 to 2.38. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 2.61 to 2.63. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @2.69 from a horizontal 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 | UP | POSITIVE | The short term trend for BFLY is up. |
| ChartMill Relative Strength | 86.41 | POSITIVE | BFLY has a high relative strength, it outperformed 86.41% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BFLY is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BFLY is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of BFLY is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 60 | NEUTRAL | The RSI value for BFLY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests BFLY has a negative trend. |
| Stochastics (14,3) | 48.83 | NEUTRAL | The Stochastics value for BFLY is a neutral value. |
| Average True Range in percent/ATR (20) | 9.75 | HIGH VOLATILITY | The high ATR as a percentage value for BFLY suggests high volalility. |
| Average Directional Index/ADX (14) | 36.34 | POSITIVE | The high ADX value value for BFLY suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
2.36
+0.07 (+3.06%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryHealth Care Equipment & Supplies
Performance
% Chg3.06%
1 Week-11.94%
2 Weeks24.21%
1 Month44.79%
3 Month26.2%
6 Month0.85%
12 Month34.09%
2 Year178.66%
3 Year-51.84%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.21
ATR(20)%9.75%
ATR Inc4.89%
Range Today0.19
ADR(20)0.22
ADR(20)%9.53%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS86.41
Mansfield-1.76
10 Day High2.79
10 Day Low1.87
20 Day High2.79
20 Day Low1.66
52 Week High4.98
52 Week Low1.32
CS1 End2.27
CR1 Start2.37
Volume & EV
DER(3)4.98%
DER(5)1.05%
Volume5.38M
Volume Incr-18.93%
Vol(5)6.08M
Vol(50)5.12M