Benefytt Technologies Inc. (BFYT) Stock Technical Analysis
NASDAQ:BFYT - Nasdaq -
Overall BFYT gets a technical rating of 6 out of 10. This is due to a decent performance in both the short and longer term time frames. Compared to the overall market however, BFYT is a bad performer.
BFYT has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 31.05. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 30.99, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BFYT in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
17.31
4 important support areas can be observed.
- A support zone ranging from 30.86 to 30.99. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @22.00 from a trend line in the daily time frame.
- Support @18.35 from a trend line in the daily time frame.
- Support @17.48 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 31.05 to 31.16. This zone is formed by a combination of multiple trend lines 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 | UP | POSITIVE | The long term trend for BFYT is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BFYT is up. |
| ChartMill Relative Strength | 0 | NEGATIVE | BFYT has a low relative strength, it was outperformed by 100% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of BFYT is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BFYT is above the rising SMA(50). |
| Relative Strength Index/RSI (14) | 72.93 | OVERBOUGHT | The high RSI value suggests BFYT may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.36 | NEGATIVE | The MACD value suggests BFYT has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 42.09 | NEUTRAL | The Stochastics value for BFYT is a neutral value. |
| Average True Range in percent/ATR (20) | 0.31 | LOW VOLATILITY | The low ATR as a percentage value for BFYT suggests low volalility. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 31.17 | 30.94 | 0.23 (0.74%) | 25.00% |
| An entry @31.17. This is a Buy Stop order right above the resistance zone. | An exit @30.94. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.23 points, which is 0.74%. | For a 0.18% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
31
+0.03 (+0.1%)