Blend Labs Inc

BLND is in a Stage 2 advancing regime with medium-term bullish bias, confirmed by an active Lockout Rally pattern that underscores continuation asymmetry. Price is tightly tracking above rising 9- and 21-EMAs on expanding volume. Although the market is overbought, the Lockout Rally override justifies immediate participation. Favor buying on pullbacks into the EMA support zone and recent mid-$1.60s congestion area. Medium confidence is assigned given moderate stage transition risk and exhaustion clusters near resistance.

• ↑Q2 revenue $33.8M (+7% YoY) near high-end guidance.
• ↑Non-GAAP operating income of $7M exceeded expectations.
• ↓Mortgage rates rose from 6.4% to 6.8%, dampening refinance volume.