Cloudflare, Inc.
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Will NET Bring Cloud Back To Life?

530
NET NET is a riskier play at this moment due to the overall weakness in tech stock and market conditions. But, in comparison to other companies in this sector NET is holding up fairly well and showing some relative strength. NET tried to get over $76 today and failed to hold above. Testing a strong support zone for the third time over the past two months and looks like we may be starting to bounce. Volume has been accumulating with 4 out of the last 6 days trading above NET's daily volume average. POC on the daily chart is right at $82.51 lvl. If SPY/QQQ can start to breakout this week $$ should flow back into the tech stocks and the cloud sector which has taken a solid beating can see some bullish movement. Ideally, we gap up to $78 and form an island reversal. But, a play over $76 with the right market conditions looks primed for a good swing.

EMA's serving as a resistance above in the 78-79 range, tough lvls to get through in the Low Volume Node (LVN)

4/16 $80 calls will be my swing of choice (4.35/4.65). IV is very low 21% IV percentile on NET and if the market starts to move back up these can pay out well!

*I entered a small NET position this week and will add more on break of $76 with volume.
ノート
NET died this morning with the market (QQQ/SPY). Exited my small swing position. Will wait for break of $76 🙏
ノート
Net killed off like most of tech. Will wait for momentum to return to the sector.
ノート
I do like that daily hammer NET printed on Friday. I will be watching the tech sector to see if we start to rebound after the past two weeks. The cloud sector was demolished so it might take some time but $76 is still a breakout level.
ノート
NET with an aggressive move back to $76. Watching this lvl to enter swings.
ノート
スナップショット
Watch NET this week, looks like it is coming back to life and wants to move back up. If it flies through $77.10-$77.50 lvls then it could move to $83 quickly.
ノート
スナップショット
I was early on the NET rally but I really like the look of this chart now. Building back up underneath that $76-77 resistance. Whenever $77 gives way $82 should come.

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