BLTE Technical Analysis - BELITE BIO INC - ADR

Technical Rating and Analysis

We assign a technical rating of 10 out of 10 to BLTE. Both in the recent history as in the last year, BLTE has proven to be a steady performer, scoring decent points in every aspect analyzed.

The long and short term trends are both positive. This is looking good!

Looking at the yearly performance, BLTE did better than 86% of all other stocks. We also observe that the gains produced by BLTE over the past year are nicely spread over this period.

BLTE is one of the better performing stocks in the Pharmaceuticals industry, it outperforms 74% of 196 stocks in the same industry.

BLTE is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so BLTE is lagging the market slightly.

In the last month BLTE has a been trading in the 64.80 - 80.00 range, which is quite wide. It is currently trading near the high of this range.

Volume is considerably higher in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

BELITE BIO INC - ADR / BLTE Weekly stock chart

BELITE BIO INC - ADR / BLTE Daily stock chart

Setup Rating and Analysis

Although BLTE 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

54.92

79.29

When analyzing the support we can see 6 important areas.

A support zone ranging from 74.18 to 75.22. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
A support zone ranging from 68.94 to 69.98. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @67.26 from a trend line in the daily time frame.
Support @65.24 from a trend line in the weekly time frame.
Support @63.00 from a trend line in the weekly time frame.
A support zone ranging from 55.47 to 55.50. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

Support and Resistance indicators

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Technical Indicator Signal Analysis

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 BLTE is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for BLTE is up.
ChartMill Relative Strength	86.43	POSITIVE	BLTE has a high relative strength, it outperformed 86.43% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of BLTE is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of BLTE is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of BLTE is above the rising SMA(200).
Relative Strength Index/RSI (14)	69.24	NEUTRAL	The RSI value for BLTE is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.57	POSITIVE	The MACD value suggests BLTE has a positive trend, although the MACD value is declining.
Stochastics (14,3)	83.03	OVERBOUGHT	The high Stochastics value suggests BLTE may be overbought.
Average True Range in percent/ATR (20)	3.99	MEDIUM VOLATILITY	The ATR as a percentage value for BLTE suggests some volalility.
Average Directional Index/ADX (14)	31	POSITIVE	The high ADX value value for BLTE suggests a strong trend.