Chart of the Day

Crowdstrike Holdings (CRWD, Nasdaq)

Close: 232.24

Stop level: 180

 

Crowdstrike is a cyber security firm which is capitalizing on what is likely to be the biggest investment trend of the next ten years: Digitalization, which we’ll be talking more about in future updates.

  • After buying CRWD at $141 in September, of course it had to take a break and go sideways for some weeks.

Pulling back to the $120 level, it put in a positive divergence with the stock hitting a double bottom at $120 while it’s internal strength, as measured by the RSI had already taken off suggesting a bottom was in place.

After briefly bouncing off of $150, CRWD put in a breakaway gap moving about 10% in one day to the $160 level.

After climbing further over $180, it posted another gap, this time called a Runaway gap to over $190.

This gapping action further strengthens this trend.

CRWD is in a strong uptrend, above all important moving averages and on multiple timeframes and fits our longer-term process.

Shorter term market volatility is currently above average which can affect all charts and cause wide daily price swings.

We have an intermediate to longer term time frame so this is not a short term call.

 

 

 

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