The stock of Cloudflare (NET) is up sharply Friday morning after the company that acts like a giant VPN gave upbeat guidance. Let's check on the charts to see how far this surge can carry.
In the daily bar chart of NET, below, we can see that the shares made a low in June and were moving higher ahead of Friday's gap higher. NET is trading above the bottoming 50-day moving average line. The slope of the 200-day line is negative and it intersects up around $105.
The On-Balance-Volume (OBV) line shows some uneven progress from the middle of June. The Moving Average Convergence Divergence (MACD) oscillator is edging above the zero line for an outright buy signal.