The stock had a very bullish close on Friday which set up today's beautiful breakout, the stock carries a heavy 17% short interest which has yet to feel the squeeze.
$66 is a very achievable target to the overall .36 Fibonacci retrace level.
Entry level $51.50 = Target price $51.00 = Stop loss $53.00
Monday could prove to be a very good day for the Cyber security stocks and CRWD has been a very active ticker in the options market on Friday.
With ARR coming in at 97% growth last quarter, Crowdstrike deserves the growth premium in my view. They have a leading position in their industry, and we have seen some solid volume support post most recent earnings. It looks to have been dragged down unfairly in the 2019 IPO wave, but the fundamentals tell a different story. Jumping into this one while sentiment is low.
If investors were excited, it would have double bottomed by now? Therefore, I believe CRWD is in a bear flag. Room to go lower. In addition, the fundamentals are telling me this is still expensive.
Bearish for short term.
Bullish for long term.
Went slightly positive today +0.1, Relative volume was actually 1.5 from average. Seeing this as a Dead Cat bounce. Relative Option Volume 1.1, Iv Rank is 8.0%, Bullish option flow. Finally, 45.1 RSI, and -7.9% from the 20-day MA. 20-day MS vs 250-day MA is -20.6%
Dec-20 calls for Strike $51 are 0.63
Entry level $58.71 - Traget price $66.32 Stop loss $56.65
Huge beat and raise for CRWD.
Earninsg Highlights
CrowdStrike Holdings (NASDAQ:CRWD) is down 2.3% after hours following a Q3 earnings report with a better-than-expected loss and raised guidance for the full year.
Revenue rose 88% overall (to $125.1M) and subscription revenue nearly doubled, hitting...
