Confluent
CFLT
has an 11-month base formation since last May 2022 almost every month has touched the price of $22.6/sh.
This May the price of
CFLT
has "range expanded up" which can mean that buyers are in control and stepping up after they have accumulated enough shares to control the price.
The base measures 100% from a low near $17 to a high near $34, so the upside target is 100% up from close to the $22.6 level which is the bottom of the mode for a target of $45-$47.
The stop is a drop back under the mode at $22 or 3 ATR's (average true ranges) from the current price.
Tim West
May 26, 2023
12:31PM EST
$29.05 last
CFLT
has an 11-month base formation since last May 2022 almost every month has touched the price of $22.6/sh. This May the price of
CFLT
has "range expanded up" which can mean that buyers are in control and stepping up after they have accumulated enough shares to control the price. The base measures 100% from a low near $17 to a high near $34, so the upside target is 100% up from close to the $22.6 level which is the bottom of the mode for a target of $45-$47.
The stop is a drop back under the mode at $22 or 3 ATR's (average true ranges) from the current price.
Tim West
May 26, 2023
12:31PM EST
$29.05 last
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Hit "update" on the chart to see the uptrend in progress.
Tim West
September 7, 2023
5:08PM EST