Cloudflare (NET) experienced exponential growth between 2020 and 2021, followed by a sharp decline in 2022. This decline halted around a support level at approximately $40, which has been tested multiple times as a key level.
Recently, the stock broke through a significant volume area, also surpassing a key resistance level that had been tested multiple times in the past.
Bullish Scenario
Currently, it appears to be in a retest phase. If this level can hold as new support, the stock could continue its upward trend, with an initial target around $130.
Bearish Scenario
If the retest fails, as it did in April 2024, the stock may retrace toward the POC area, located around $60. A move below this key level would increase the likelihood of a further decline toward the critical $40 support, previously tested multiple times, where it could attempt to stabilize once again.
Recently, the stock broke through a significant volume area, also surpassing a key resistance level that had been tested multiple times in the past.
Bullish Scenario
Currently, it appears to be in a retest phase. If this level can hold as new support, the stock could continue its upward trend, with an initial target around $130.
Bearish Scenario
If the retest fails, as it did in April 2024, the stock may retrace toward the POC area, located around $60. A move below this key level would increase the likelihood of a further decline toward the critical $40 support, previously tested multiple times, where it could attempt to stabilize once again.
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Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.