Based on good technical signals, KANZHUN LTD - ADR is potentially setting up for a breakout.

KANZHUN LTD - ADR (NASDAQ:BZ) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NASDAQ:BZ.

Zooming in on the technicals.

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

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

• Both the short term and long term trends are positive. This is a very positive sign.
• When comparing the yearly performance of all stocks, we notice that BZ is one of the better performing stocks in the market, outperforming 92% of all stocks.
• BZ is one of the better performing stocks in the Interactive Media & Services industry, it outperforms 86% of 68 stocks in the same industry.
• BZ 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 BZ is lagging the market slightly.
• In the last month BZ has a been trading in the 20.22 - 22.74 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

For an up to date full technical analysis you can check the technical report of BZ

How do we evaluate the setup for NASDAQ:BZ?

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NASDAQ:BZ is 9:

BZ has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 22.01. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 20.61, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BZ in the last couple of days, which is a good sign.

Trading setups like NASDAQ:BZ

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Of course, there are many ways to trade or not trade NASDAQ:BZ 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.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.