Technology company Confluent Inc. announced a new solution for migrating data streaming services called "Confluent Migration Accelerator." This program allows the abandonment of the commonly used open-source Apache Kafka solution.
Apache Kafka is widely utilised by over 100,000 organisations worldwide, including most Fortune 500 companies. If successful, Confluent has significant prospects for increasing revenue.
Therefore, we have chosen to examine the Confluent Inc. (NASDAQ: CFLT) stock chart.
On the D1 timeframe, support has formed at 22.77, with resistance at 32.88. A relatively wide channel has developed between these levels within the uptrend. There is a high probability that the resistance will be broken.
On the H1 timeframe, a breakthrough of the 32.88 level could set a short-term target for a price increase at 41.26, while in the medium term, it could hover around 50.99.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Apache Kafka is widely utilised by over 100,000 organisations worldwide, including most Fortune 500 companies. If successful, Confluent has significant prospects for increasing revenue.
Therefore, we have chosen to examine the Confluent Inc. (NASDAQ: CFLT) stock chart.
On the D1 timeframe, support has formed at 22.77, with resistance at 32.88. A relatively wide channel has developed between these levels within the uptrend. There is a high probability that the resistance will be broken.
On the H1 timeframe, a breakthrough of the 32.88 level could set a short-term target for a price increase at 41.26, while in the medium term, it could hover around 50.99.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.