We have had bullish momentum when it comes to software infrastructure; is it time for a decline? If we break below this important support, bears could gain swift control in the medium term!
Keep an eye and most importantly follow your own trade plan and risk..
CFLT has a very constructive long term chart here with this month's "Range Expansion Month" to the upside. This triggers a 9-month rally phase ahead and also sets up buy-limit entries down at $26-$24 on any pullbacks from $29.10 last on May 26th. Upside to $44+ based on 100% range around this mode and $22 mode.
CFLT is poised here in a sideways pattern, but today's range is a "range expansion day" to the upside, signaling strong buying and a possible continuation signal from here.