Chart of the Week: Crowdstrike
Hey good morning everybody. Happy Wednesday. It’s time for our chart of the week, and this week we’re gonna be focused on an old friend of ours called Crowdstrike, a cybersecurity name. Let’s take a look at the chart. It’s looking pretty strong right here.
As you can see here, since bouncing off that 200 day moving average, Crowdstrike’s been making a nice series of higher highs and higher lows, which is our textbook definition of an uptrend.
We had a big huge push forward following earnings right over here in September and also in late August when that reaction low came in off that 200 day moving average.
Relative strength – not too overbought right now. It did reach that overbought level, pulled back a little, but again, making higher highs and higher lows above some relevant moving averages, like the 20 day and the 10 day moving average.
Cloud is green. We’re seeing bullishness in the Chaikin money flow. Stochastics overbought, and MACD on a buy signal over here.
So I think the stock can make a run up towards $550 eventually, which would be about a nice 10% run from where we are right now – $508 – near all time highs, which we tagged in early July.
So take a look at Crowdstrike.
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