BUTTERFLY NETWORK INC (BFLY) Technical Analysis
NYSE:BFLY • US1241551027
We assign a technical rating of 8 out of 10 to BFLY. BFLY has been one of the better performers in the overall market. Some doubts were observed in the medium time frame, but recent action was again very positive.
- The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
- BFLY is one of the better performing stocks in the Health Care Equipment & Supplies industry, it outperforms 89% of 184 stocks in the same industry.
- BFLY has an average volume of 6409970 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 85% of all other stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
- 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.
- In the last month BFLY has a been trading in the 2.82 - 4.96 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 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
2.94
When analyzing the support we can see 2 important areas.
- Support @3.06 from a trend line in the daily time frame.
- Support @2.97 from a trend line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- Resistance @4.48 from a trend line in the weekly time frame.
- Resistance @4.62 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 | NEUTRAL | NEUTRAL | The long term trend for BFLY is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BFLY is up. |
| ChartMill Relative Strength | 85.56 | POSITIVE | BFLY has a high relative strength, it outperformed 85.56% 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 | 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) | 52.28 | NEUTRAL | The RSI value for BFLY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.1 | POSITIVE | The MACD value suggests BFLY has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 46.88 | NEUTRAL | The Stochastics value for BFLY is a neutral value. |
| Average True Range in percent/ATR (20) | 9.53 | HIGH VOLATILITY | The high ATR as a percentage value for BFLY suggests high volalility. |
| Average Directional Index/ADX (14) | 32.96 | POSITIVE | The high ADX value value for BFLY suggests a strong trend. |
BFLY Technicals: Chart, Performance Metrics, Trend & Indicators
3.76
-0.27 (-6.7%)
BUTTERFLY NETWORK INC / BFLY FAQ
Can you provide the ChartMill technical rating for BUTTERFLY NETWORK INC?
ChartMill assigns a technical rating of 8 / 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 Bearish.
What is the RSI signal for BUTTERFLY NETWORK INC (BFLY) stock?
BUTTERFLY NETWORK INC (BFLY) has an RSI value of 52.2753. 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 0.0984293, 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 positive.