CONFLUENT INC-CLASS A (CFLT) Stock Technical Analysis
NASDAQ:CFLT - Nasdaq - US20717M1036 - Common Stock - Currency: USD
Taking everything into account, CFLT scores 6 out of 10 in our technical rating. In the past year, CFLT was only an average performing stock in the market. The medium term picture is unclear, although we see some positive events in recent action.
The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
CFLT has an average volume of 5412010 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When compared to the yearly performance of all other stocks, CFLT outperforms 63% of them, which is more or less in line with the market.
CFLT is part of the Software industry. There are 282 other stocks in this industry, CFLT did better than 52% of them.
CFLT is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so CFLT is lagging the market.
In the last month CFLT has a been trading in the 22.70 - 26.70 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although the technical rating is only medium, CFLT does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 26.30. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 25.25, a Stop Loss order could be placed below this zone.
More info and screens
19.10
34.64
We found 5 important support areas.
- A support zone ranging from 24.68 to 25.25. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 24.16 to 24.25. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 23.26 to 23.53. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @20.13 from a trend line in the weekly time frame.
- Support @19.29 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 26.30 to 26.30. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @34.30 from a horizontal line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for CFLT is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CFLT is up. |
| ChartMill Relative Strength | 63.92 | NEUTRAL | CFLT is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CFLT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CFLT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of CFLT is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 58.59 | NEUTRAL | The RSI value for CFLT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.08 | NEGATIVE | The MACD value suggests CFLT has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 41.05 | NEUTRAL | The Stochastics value for CFLT is a neutral value. |
| Average True Range in percent/ATR (20) | 3.67 | MEDIUM VOLATILITY | The ATR as a percentage value for CFLT suggests some volalility. |
| Average Directional Index/ADX (14) | 11.39 | NEGATIVE | The low ADX value for CFLT suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 26.31 | 24.67 | 1.64 (6.23%) | 16.04% |
| An entry @26.31. This is a Buy Stop order right above the resistance zone. | An exit @24.67. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.64 points, which is 6.23%. | For a 1.00% total portfolio risk, you can invest 16.04% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
25.43
+0.51 (+2.05%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg2.05%
1 Week3.8%
2 Weeks-0.66%
1 Month6%
3 Month20.24%
6 Month-4.76%
12 Month4.35%
2 Year-26.38%
3 Year-0.08%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.92
ATR(20)%3.67%
ATR Inc-10.73%
Range Today0.78
ADR(20)0.9
ADR(20)%3.55%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS63.92
Mansfield-0.6
10 Day High26.7
10 Day Low23.81
20 Day High26.7
20 Day Low22.7
52 Week High37.9
52 Week Low17.79
CS1 End25.25
CR1 Start26.3
Volume & EV
DER(3)2.38%
DER(5)0.75%
Volume4.97M
Volume Incr-11.16%
Vol(5)4.73M
Vol(50)5.41M