Cybersecurity is the REAL "buy the dip" opportunity
1. Crowdstrike has crashed 30%+ from the top and has been consolidating the past month in a strong support zone
2. As a result, it was oversold in late nov, which only happened last in the march 2020 crash
3. I think this is a support zone based on the volume profile. You can see the green zone repeatedly coincides with swing lows. This is probably accumulation !
4. Its pretty clear that an ascending triangle has formed the past month in this accumulation zone and is ready to breakout within the next week
5. I am very bullish on the cybersecurity sector so a move down of 30% is an excellent buying opportunity !!
TAKEAWAY: If I am right about the start of a new leg for this as well as the cybersecurity sector as a whole, this means a catalyst could show up in the very near future. This could be bad news for the general market as a cybersecurity catalyst is a clear "risk off" trigger.
Disclaimer: This is not financial advice, do your own research
2. As a result, it was oversold in late nov, which only happened last in the march 2020 crash
3. I think this is a support zone based on the volume profile. You can see the green zone repeatedly coincides with swing lows. This is probably accumulation !
4. Its pretty clear that an ascending triangle has formed the past month in this accumulation zone and is ready to breakout within the next week
5. I am very bullish on the cybersecurity sector so a move down of 30% is an excellent buying opportunity !!
TAKEAWAY: If I am right about the start of a new leg for this as well as the cybersecurity sector as a whole, this means a catalyst could show up in the very near future. This could be bad news for the general market as a cybersecurity catalyst is a clear "risk off" trigger.
Disclaimer: This is not financial advice, do your own research