BACKBLAZE INC-A (BLZE) Stock Technical Analysis
NASDAQ:BLZE - Nasdaq - US05637B1052 - Common Stock - Currency: USD
Taking everything into account, BLZE scores 5 out of 10 in our technical rating. Recently some decent action could be observed, but in the medium term time frame this is still negative. BLZE was also a bad performer in the overall market in the last year.
When comparing the yearly performance of all stocks, BLZE is a bad performer in the overall market: 80% of all stocks are doing better.
BLZE is part of the IT Services industry. There are 82 other stocks in this industry, of which 71% are performing better than BLZE.
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.
In the last month BLZE has a been trading in the 4.22 - 6.14 range, which is quite wide. It is currently trading near the high of this range.
BLZE 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 BLZE is lagging the market slightly.
Volume is considerably higher in the last couple of days.
BLZE has an average technical rating and it also 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
4.51
7.41
When analyzing the support we can see 3 important areas.
- A support zone ranging from 5.56 to 5.62. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 5.28 to 5.30. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @4.56 from a trend line in the daily time frame.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 5.99 to 6.02. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @7.08 from a trend line in the daily time frame.
- Resistance @7.34 from a horizontal line in the weekly 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 BLZE is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BLZE is up. |
| ChartMill Relative Strength | 20.93 | NEGATIVE | BLZE has a low relative strength, it was outperformed by 79.07% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BLZE is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BLZE is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of BLZE is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 61.94 | NEUTRAL | The RSI value for BLZE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.09 | POSITIVE | The MACD value suggests BLZE has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 78.72 | NEUTRAL | The Stochastics value for BLZE is a neutral value. |
| Average True Range in percent/ATR (20) | 5.17 | HIGH VOLATILITY | The high ATR as a percentage value for BLZE suggests high volalility. |
| Average Directional Index/ADX (14) | 36.36 | POSITIVE | The high ADX value value for BLZE 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)
5.63
-0.35 (-5.85%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryIT Services
Performance
% Chg-5.85%
1 Week4.07%
2 Weeks7.85%
1 Month24.83%
3 Month-21.91%
6 Month-9.92%
12 Month-15.59%
2 Year34.37%
3 Year-11.48%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.34
ATR(20)%5.17%
ATR Inc75.4%
Range Today0.29
ADR(20)0.26
ADR(20)%4.59%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS20.93
Mansfield-0.96
10 Day High6.14
10 Day Low5.12
20 Day High6.14
20 Day Low4.22
52 Week High8.08
52 Week Low3.94
CS1 End5.62
CR1 Start5.99
Volume & EV
DER(3)2%
DER(5)0.11%
Volume714.70K
Volume Incr97.66%
Vol(5)931.78K
Vol(50)498.64K