Watch These Cloudflare Price Levels as Stock Surges After Better-Than-Expected Earnings | Global News Avenue

Cloudflare(net) Stocks traded sharply on Friday after its fourth-quarter earnings exceeded analysts’ expectations.

The company provides services for secure websites Artificial Intelligence (AI) Application said it added record-breaking customers in the quarter and demand is expected to accelerate this year.

CloudFlare shares have grown more than 30% since the end of Thursday. This improvement is expected Cybersecurity The company will benefit from growing cyber threats.

Next, we break down technology On the Cloudflare chart, and point out the key tribute to the price level to note.

Higher price for cups and processing pattern signals

CloudFlare shared 11 months Cup and handle Send a signal before breaking through the top trendline of the pattern at the end of last month continue The stock’s long-term uptrend.

After a brief time merge At the time, earnings looked to accelerate in Friday’s trade after the company achieved more than expected benefits.

It is also worth noting that 50-day moving average (MA) Last November, crossed over the 200-day MA Golden CrossThis is a bullish charting pattern that confirms the stock’s recent moves.

Let’s project two potential upside spaces Price target Analysis and identification of several keys through application technology Support level Worth watching during the potential period Make a profit period.

Raise price targets to monitor

Investors can use Measurement principlean analysis technique Chart Pattern Project future price changes.

Point-based targets

Application technology forecast point– Based on the goal, we calculate the distance between the cup and the handle cup and add it to the highest trend line of the pattern. For example, we added $54 to $116, which targets $170, which is 20% higher than Thursday’s closing price.

Percent-based targets

To project the percentage-based target using the measurement principle, we calculate the percentage change of the cup and handle “cup” and add it to the highest trend line value of the pattern. For example, we are growing 87.1% to $116 with a forecast upward target of $217.04, about 53% above yesterday’s closing price.

Key support levels for watching during profitable period

During earnings, investors should initially watch the $140 level, and on the chart, stocks may encounter support near the week’s merger cap. Price action.

Finally, a sales below this level may retest the critical $116 level, the area could attract 50 days of purchase interest near MA and CUP and HANDY Top Trendline, which could flip from previous areas Resist Entering the future support.

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