BUTTERFLY NETWORK INC (BFLY) Stock Technical Analysis
NYSE:BFLY - New York Stock Exchange, Inc. - US1241551027 - Common Stock - Currency: USD
We assign a technical rating of 3 out of 10 to BFLY. Although BFLY is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
BFLY is one of the better performing stocks in the Health Care Equipment & Supplies industry, it outperforms 96% of 188 stocks in the same industry.
In the last month BFLY has a been trading in the 2.10 - 2.57 range, which is quite wide. It is currently trading near the high of this range.
BFLY has an average volume of 2956040 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that BFLY is one of the better performing stocks in the market, outperforming 96% of all stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
BFLY is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so BFLY is lagging the market slightly.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
The technical rating of BFLY is bad and it also does not present a 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
2.14
2.58
We found 1 important support area.
- A support zone ranging from 2.16 to 2.16. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 2.54 to 2.55. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
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 | DOWN | NEGATIVE | The long term trend for BFLY is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for BFLY is neutral. |
| ChartMill Relative Strength | 96.34 | POSITIVE | BFLY has a high relative strength, it outperformed 96.34% 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) | DOWN | MIXED | The current price of BFLY is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of BFLY is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 59.33 | NEUTRAL | The RSI value for BFLY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests BFLY has a positive trend. |
| Stochastics (14,3) | 41.89 | NEUTRAL | The Stochastics value for BFLY is a neutral value. |
| Average True Range in percent/ATR (20) | 5.84 | HIGH VOLATILITY | The high ATR as a percentage value for BFLY suggests high volalility. |
| Average Directional Index/ADX (14) | 12.84 | NEGATIVE | The low ADX value for BFLY suggests a weak or negative 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)
2.53
+0.36 (+16.59%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryHealth Care Equipment & Supplies
Performance
% Chg16.59%
1 Week9.05%
2 Weeks7.66%
1 Month4.12%
3 Month-30.11%
6 Month-23.1%
12 Month154.3%
2 Year3.69%
3 Year-17.05%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.13
ATR(20)%5.84%
ATR Inc107.27%
Range Today0.4
ADR(20)0.14
ADR(20)%5.45%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS96.34
Mansfield0.58
10 Day High2.57
10 Day Low2.11
20 Day High2.57
20 Day Low2.1
52 Week High4.98
52 Week Low0.82
CS1 End2.16
CR1 Start2.54
Volume & EV
DER(3)7.95%
DER(5)4.46%
Volume5.99M
Volume Incr38.19%
Vol(5)3.28M
Vol(50)2.96M