CrowdStrike could be a member of the “new name” club because it only went public in June 2019. The cybersecurity stock rallied along with other software companies between March and September and has been consolidating since.
Four potential patterns are now appearing on its chart.
First, CRWD’s stochastics have dipped to their most oversold levels since March.
Second is the price zone around $130-131. It served as resistance at the top of a triangle September 4-18. CRWD then broke through it and bounced above it on September 24. Prices have now returned to that same area.
Third, CRWD has pulled back to its rising 50-day ( ).
Fourth, momentum has been over the last two weeks. But recent show several potential reversal patterns: inside day on October 23, outside day/ on October 26 and another inside day on October 27. Is it trying to stabilize, potentially allowing the longer-term uptrend to continue?
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