NYSE:NET Analysis, Key Levels & Targets
Request analysis for @f7rt7fmhzz
NET is at a very interesting resistance level at 68.83… I would watch this level closely… A break above that would be an early buy signal (on the BIG timeframes) and then I’d be looking for some follow through (volume, and if it does pull back I’d be wanting to see that it holds above the...
Cloudflare has strong fundamentals and was recently oversold to nearly the lower 200 day 2nd standard deviation.
A reversion to the 200 day mean yields 30% (my estimate: over the next 1-2 months).
A visit to the all-time-high would be 420% (my estimate: over the next 2 years).
A recession may force it lower, however.
NYSE:NET #Cloudflare is one of AI beneficiaries. Currently up against the upper trend line resistance. RSI is nearing over bought. Upside targets - $77, $100. Down side risk - $55 - $51
On the hourly chart, the trend started on May 19 (linear regression channel).
There is a high probability of profit. Possible take profit level is 54.65
But do not forget about SL = 60.23
Good luck!
Regards, WeBelieveInTrading
Stay tuned to see how Cloudflare's revenue continues to grow in a predictable fashion! We're confident that the company has a compelling value proposition and will soon become profitable. It's an exciting time for investors who are willing to take on their own risk.
#Cloudflare NYSE:NET
As Cloudflare Inc is in last leg of selling. My advice would be accumulate at this levels for the short term and as well as long term. My Strategy would be invest in the time horizon for 4-5 Years.
NET is just one of those stocks, when it wants to move, it can move quick. Has already retraced to the previous breakout and is at the daily 50, and multiple ascending trendlines.
This is in quite the tight spot. At the daily 200MA, descending trend line right above. Price is wedged right between a point where it could really bounce quickly for a nice move or it fades lower.
I just posted a note on the power of using Renko charts in preparing for a position - linked to this one.
NET (Cloudflare) is on my watchlist for new positions. Had a quick trade on NET around the earnings earlier this month - and i'm now watching the chart for the next trade. would like to share some details showing another example of the power of Renko...
NET – some observation
Since reaching a low of around $40 early this year, stock has been rebounding. Tested the $40 level couple of times. That level is likely to act as a strong support.
Additionally, since its IPO (2019) to Dec 2021, the weekly RSI remained above 50 (highlighted); prices generally moved higher during this period.
In Dec 2021, RSI dipped...
There seems to be one more low coming for $NET. Upon a breakdown of the descending triangle and support at $38, we'd likely see a quick move down targeting the low $20 range.
Let's see how it plays out over the coming weeks.
Cloudflare - 30d expiry - We look to Sell at 52.98 (stop at 56.11)
Our short term bias remains negative.
Daily signals are bearish.
The medium term focus remains bearish and intraday rallies continue to find sellers.
The trend of lower highs is located at 54.00.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Levels close to...
The bullish divergence is confirmed and there is a high chance for a breakout.
Wait for a strong green candle breaking the trend line.
TP1: $64.92 (33.2% profit)
TP2: $74.98 (53.9% profit)
TP3: $80.32 (64.9% profit)
SL: $39.86 (18.2% loss)
