Good technical signals and a possible breakout for BRAZE INC-A.

Our stock screener has identified BRAZE INC-A (NASDAQ:BRZE) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NASDAQ:BRZE.

Zooming in on the technicals.

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

Overall BRZE gets a technical rating of 8 out of 10. Although BRZE is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, BRZE did better than 75% of all other stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
• BRZE is part of the Software industry. There are 285 other stocks in this industry, BRZE did better than 54% of them.
• BRZE is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so BRZE is lagging the market.
• In the last month BRZE has a been trading in the 40.55 - 46.63 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Our latest full technical report of BRZE contains the most current technical analsysis.

How does the Setup look for NASDAQ:BRZE

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NASDAQ:BRZE currently has a 9 as setup rating:

Besides having an excellent technical rating, BRZE also presents 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 45.58. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 43.74, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How can NASDAQ:BRZE be traded?

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Of course, there are many ways to trade or not trade NASDAQ:BRZE and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

More breakout setups can be found in our Breakout screener.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.