Buying Cloudflare stock at these levels, and what seems to be an approaching opportunity to buy it at ~$30 is just an incredible discount.
As for the technicals, it sure seems that we are on the C wave of an ABC correction. I also added some trend lines that may or may not be respected. I am eyeing a bounce around $31 in late August.
This is not financial advice. This is my personal opinion.
- Myself and so many other developers around the world love building and deploying on Cloudflare, it's amazingly cost-friendly with a lot of free entry plans to get started at no cost. I am uber bullish on developers in general, it's a space that will grow exponentially. So many kids are growing up, wanting to code and deploy projects and Cloudflare makes it easy for them to get started at no cost, this is huge. When these kids grow up, they will be advocates for Cloudflare, they will pay it back. They will scale their web apps on Cloudflare, they will spend their money with the company that let them start building at no cost. It's what they'll be familiar with and Cloudflare will have a suite of products that will fulfill their needs.
- Cloudflare builds the right product and they build it fast.
- The founder is the CEO. They have a great leader at the helm who lives and breathes the space -- natural and passionate innovator. This is someone I have full confidence backing.
- Cloudflare continues to grow 50%+ YoY. This is the time to buy company's that are continuing to grow, despite the conditions of the economy. https://ibb.co/522bR1p
As for the technicals, it sure seems that we are on the C wave of an ABC correction. I also added some trend lines that may or may not be respected. I am eyeing a bounce around $31 in late August.
This is not financial advice. This is my personal opinion.