CONFLUENT INC-CLASS A (CFLT) Stock Technical Analysis
USA - NASDAQ:CFLT - US20717M1036 - Common Stock
Overall CFLT gets a technical rating of 6 out of 10. CFLT has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.
Although the technical rating is only medium, CFLT does present a nice setup opportunity. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 23.30, a Stop Loss order could be placed below this zone.
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21.46
When analyzing the support we can see 2 important areas.
- A support zone ranging from 22.68 to 23.30. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 21.68 to 22.32. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
4 important resistance areas can be observed.
- Resistance @23.37 from a horizontal line in the weekly time frame.
- A resistance zone ranging from 24.24 to 24.45. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @27.30 from a horizontal line in the daily time frame.
- 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 | UP | POSITIVE | The long term trend for CFLT is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for CFLT is neutral. |
| ChartMill Relative Strength | 69.4 | 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) | DOWN | NEGATIVE | The current price of CFLT is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 54.42 | NEUTRAL | The RSI value for CFLT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests CFLT has a negative trend. |
| Stochastics (14,3) | 52.48 | NEUTRAL | The Stochastics value for CFLT is a neutral value. |
| Average True Range in percent/ATR (20) | 4.4 | MEDIUM VOLATILITY | The ATR as a percentage value for CFLT suggests some volalility. |
| Average Directional Index/ADX (14) | 34.63 | POSITIVE | The high ADX value value for CFLT suggests a strong trend. |
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 |
|---|---|---|---|
| 23.38 | 22.67 | 0.71 (3.04%) | 25.00% |
| An entry @23.38. This is a Buy Stop order right above the resistance zone. | An exit @22.67. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.71 points, which is 3.04%. | For a 0.76% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of CFLT. Please evaluate whether better entry and exit points can be found.
- 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.
23.3
-0.1 (-0.43%)
CONFLUENT INC-CLASS A / CFLT FAQ
What is the ChartMill technical rating of CONFLUENT INC-CLASS A (CFLT) stock?
ChartMill assigns a technical rating of 6 / 10 to CFLT.
Can you provide the trend direction for CONFLUENT INC-CLASS A?
The current trend direction for CONFLUENT INC-CLASS A (CFLT) is Bullish.
What is the RSI signal for CONFLUENT INC-CLASS A (CFLT) stock?
CONFLUENT INC-CLASS A (CFLT) has an RSI value of 54.4151. This indicates that the stock is currently neutral.
Can you provide the support and resistance levels for CONFLUENT INC-CLASS A?
CONFLUENT INC-CLASS A (CFLT) has a support level at 23.3 and a resistance level at 23.37. Check the full technical report for our detailed analysis of CFLT support and resistance levels.