BACKBLAZE INC-A (BLZE) Stock Technical Analysis
NASDAQ:BLZE - Nasdaq - US05637B1052 - Common Stock - Currency: USD
Taking everything into account, BLZE scores 8 out of 10 in our technical rating. In the last year, BLZE was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.
The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
BLZE is one of the better performing stocks in the IT Services industry, it outperforms 76% of 82 stocks in the same industry.
In the last month BLZE has a been trading in the 4.65 - 7.20 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, which is what you like to see during a strong movement up.
When comparing the yearly performance of all stocks, we notice that BLZE is one of the better performing stocks in the market, outperforming 82% of all stocks. However, this relatively good performance is mostly due to a recent big move.
BLZE is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so BLZE is lagging the market.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Although BLZE has an excellent technical rating, it does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
4.88
7.41
When analyzing the support we notice one important area.
- Support @4.93 from a trend line in the daily time frame.
When analyzing the resistance we notice one important area.
- 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 | 82.21 | POSITIVE | BLZE has a high relative strength, it outperformed 82.21% 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) | DOWN | MIXED | The current price of BLZE is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 79.22 | OVERBOUGHT | The high RSI value suggests BLZE may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.18 | POSITIVE | The MACD value suggests BLZE has a positive trend. |
| Stochastics (14,3) | 91.37 | OVERBOUGHT | The high Stochastics value suggests BLZE may be overbought. |
| Average True Range in percent/ATR (20) | 4.01 | MEDIUM VOLATILITY | The ATR as a percentage value for BLZE suggests some volalility. |
| Average Directional Index/ADX (14) | 21.15 | NEUTRAL | The ADX value for BLZE suggests a possible start of a new 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)
7.14
+0.46 (+6.89%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryIT Services
Performance
% Chg6.89%
1 Week46.01%
2 Weeks31.01%
1 Month38.37%
3 Month36.78%
6 Month2.59%
12 Month10.53%
2 Year21.84%
3 Year9.68%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.34
ATR(20)%4.01%
ATR Inc459.26%
Range Today0.9
ADR(20)0.27
ADR(20)%3.78%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS82.21
Mansfield0.96
10 Day High7.2
10 Day Low4.65
20 Day High7.2
20 Day Low4.65
52 Week High8.08
52 Week Low3.94
CS1 End4.93
CR1 Start7.34
Volume & EV
DER(3)4.96%
DER(5)4.29%
Volume1.96M
Volume Incr261.48%
Vol(5)1.04M
Vol(50)407.27K