Butterfly Network Inc

BFLY remains in Stage 3 distribution after a decisive support failure at the ~$6.62 level, with lower highs under declining EMAs and volume skewed toward sell‐offs. The medium-term bias is bearish, reinforced by consistent rejections at the 9/21 EMA and accelerating downtrend, while short-term timing favors selling on rallies into the dynamic resistance zone. The long-term uptrend stays intact above major moving averages, but the prevailing distribution structure dominates execution.

• ↑Revenue jumped 25% YoY to $26.5 M in Q1’26
• ↑Gross margin improved to 69% from 63% YoY
• ↓Valuation stretched vs. earnings, signaling downside risk