Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>The NET stock price is up by 45% on a YTD basis.</a> </li> 
 <li> <span>2</span> <a>Cloudflare stock price (NYSE: NET) is stuck in a wide-range consolidation.</a> </li> 
 <li> <span>3</span> <a>Cloudflare Inc. insider sold&nbsp; 9993 shares worth $647,277.</a> </li> 
</ul> 
<p>Cloudflare Inc., NET stock price rose by 45% on a YTD basis and generated decent returns for its investors. It performed well at the beginning of 2023 but for the past few months, the bullish momentum is lost.&nbsp;</p> 
<p>At present, Cloudflare stock price is stuck in a wide range between $56.00 to $75.00. Buyers have tried multiple times to break the higher range and expand upward. But due to certain reasons, the attempt failed and prices reverted down.&nbsp;</p> 
<p>According to the recent SEC filing, Cloudflare Inc. Director Carl Letbetter sold 9993 NET shares on September 13, 2023. It is worth $647,277. Due to this the stock price reacted negatively in the previous session and closed with the intraday decline of -4.30%.&nbsp;</p> 
<p>The 50-day and 200-day EMA slopes sideways and is trying to act as immediate support for bulls. It showcases that prices lacked direction and may spend some more time in a range.&nbsp;</p> 
<p>On the lower side, $56.00 is a strong support and any short-term downfall will be easily absorbed. It indicates that buyers are active at lower levels and downside risk is low.</p> 
<h2 class="wp-block-heading" id="strong-will-cloudflare-net-stock-price-break-the-range-upward-strong"><strong>Will Cloudflare, NET Stock Price Break the Range Upward?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="434" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-497-1024x434.png" alt="NET Stock: Keep Cloudflare Stock in Radar; Is Breakout Possible?" class="wp-image-168830" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-497-1024x434.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-497-300x127.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-497-768x325.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-497-1536x651.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-497-750x318.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-497-1140x483.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-497.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   NYSE: NET daily chart by <a href="https://www.tradingview.com/x/kkgKG2SM/" target="_blank" rel="noreferrer noopener">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>NET stock price prediction stays bullish for the long term till it sustains above the $50.00 level. The price behavior of the stock is less volatile and frequent spikes are low.&nbsp;</p> 
<p>Over the years, Cloudflare Inc. has beaten the quarterly earnings estimates but the Net income still remains negative. It looks like until the Net income turns positive the NET stock will lack fresh buying.&nbsp;</p> 
<p>Investors had kept the stock on the radar but the company needs to become profitable for creating a sustainable business. Therefore, the possibility of upward range expansion in <a href="https://www.thecoinrepublic.com/2023/08/07/cloudflare-stock-price-prediction-will-net-break-the-80-mark/" target="_blank" rel="noreferrer noopener">Cloudflare stock</a> will increase when NET turns positive.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-cloudflare-stock-option-chain-analysis-strong"><strong>Cloudflare Stock: Option Chain Analysis</strong></h3>  
<div class="tradingview-widget-container">
  &nbsp;&nbsp;
 <div id="tradingview_aaf74"></div> &nbsp;&nbsp;
 <div class="tradingview-widget-copyright">
  <a href="https://www.tradingview.com/" rel="noopener nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> &nbsp;&nbsp;
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp;
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": 950,

  "height": 500,

  "symbol": "NYSE:NET",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "light",

  "style": "1",

  "locale": "en",

  "enable_publishing": true,

  "backgroundColor": "rgba(255, 255, 255, 1)",

  "allow_symbol_change": true,

  "studies": [

    "STD;Supertrend"

  ],

  "container_id": "tradingview_aaf74"

}

  );

  </script> 
</div>  
<p>Cloudflare stock price is in a consolidation phase so option traders are selling strangles. The next month’s expiry is on Oct 20, 2023.&nbsp;</p> 
<p>The highest PUT OI buildup is at 60 strike which holds 927 contracts. So, $60.00 will act as a strong support in the coming month.&nbsp;</p> 
<p>The highest CALL OI build-up is at 75 strikes and holds $1482 contracts followed by 2nd highest at 70 which holds 1017 contracts. It shows that $70 to $75 will act as a supply zone in October month.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Cloudflare Inc., NET stock price rose by 45% on a YTD basis. The upward momentum has halted near $75.00 which is acting as a hurdle for bulls. The technical and option chain analysis shows that Cloudflare stock price needs to sustain above $70.00. Otherwise, the probability of the breakout remains low.</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $70.00 and $75.00</li> 
 <li>Support levels: $56.00 and $50.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

NET Stock: Keep Cloudflare Stock in Radar; Is Breakout Possible?

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