Backblaze Inc

BLZE remains in a Stage 2 advancing regime with a clear sequence of higher highs and higher lows supported by rising EMAs and volume expansion. However, the recent Bullish Exhaustion candle at the latest parabolic peak, combined with extreme overbought RSI and Options Score, signals waning momentum and short-term exhaustion. Therefore, while the medium-term bias stays bullish, execution should be deferred until a pullback into the rising EMA support area is accepted and shows confirmation.

• ↑Q1 revenue $38.7 M, up 12% YoY; B2 Storage drove $22.4 M (+24%)
• ↑Gross margin expanded to 61% from 56%, demonstrating cost leverage
• ↓Computer backup segment forecast to decline ~5% YoY, signaling legacy drag