Speaker favors Cloudflare as a top sector name driven by AI; seeks long entry above 310.60 with target at 340.

And so Mike, here as we move to your next one here with Cloudflare and we look at Cloudflare, I mean, a little volatility within, but overall momentum to the upside for Cloudflare, we're looking at a 50 plus% gain year to date here. How are you approaching Cloudflare?

Yeah. So I I I like the sector in general and and and Net Cloudflare is, you know, at the top level of of that sector. And so, you know, again, that's still going to be driven by this AI type of trade.

And, you know, so I'm going to wait for this. This is what I call an inside bar entry. And so I'm looking for a trade above 31060. And then we're going to go with a broken wing fly.

Again, this one a little bit different. uh mostly because of the strikes, but um I'm going to be targeting the 340 line with that. So the 325, 340, 350 call broken wing fly. Should be able to buy that if we if we get above that 31060.

Should be trading about $2.40. Really nice reward to risk on that.

All right, Rachel. So 31060. Are you seeing that level as being important when you look at the technicals here? Yeah. So, uh, what I'm looking at is, uh, one is that beautiful, uh, massive cup and handle breakout to new highs.

We saw momentum with the MACD really confirm that price movement to new highs. Uh, but with that latest weakness in tech, we did see price really retested that polarity at old resistance, now new support.

So, I think it's constructive that support. Uh, we have had a confirmed bounce at that level. Now, near-term support is around 291 or so, but it is setting up for a bull flag pattern, which could take it back to new all-time highs.

Uh, so that's what kind of traders will look for up ahead.

Yeah. So that cup and handle formation that we saw in the shorter term is actually now a part of a cup in the much larger fractal cup and handle from prior cycle highs. So we see price stalled out recently at those all-time highs at a pretty logical level.

And it was on point at the 161.8% Fibonacci retracement level. And so for base breakout traders, that's always going to be the typical first profit taking zone. So it makes sense that there was a lot of overhead supply there.

I would say if price can climb across uh 335 here in the near term that next resistance is going to be 406. So from a longer term perspective that trend is strong and uh looks like it's just getting stronger.

So it definitely would support um favor for the bulls here.

All right. Right now cloud flare also higher on the session despite the broader markets being down. We're at 30150 up about a half of a percent.