CRWD - Ready to bounce?
Despite the steep decline in the general market that started in mid July, CRWD was actually trending higher, showing good relative strength. In fact,it is still trading above its 50 day MA while both SPX and NQ is now well below this MA.
There are a few signs that CRWD could be ready to bounce from it's recent correction that started on 19th Oct:
1. Bullish divergence between price and RSI on its daily chart
2. An Inside bar last Friday that could signal the near term correction could be ending
I will long as soon as it crosses above last Friday's candle (inside bar) high @ 175.70 with an initial stop loss about $1 below its recent low @ $170.
Disclaimer:
This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie trailing stop loss and position sizing) is (probably the most) important!
Take care and Good Luck!
Despite the steep decline in the general market that started in mid July, CRWD was actually trending higher, showing good relative strength. In fact,it is still trading above its 50 day MA while both SPX and NQ is now well below this MA.
There are a few signs that CRWD could be ready to bounce from it's recent correction that started on 19th Oct:
1. Bullish divergence between price and RSI on its daily chart
2. An Inside bar last Friday that could signal the near term correction could be ending
I will long as soon as it crosses above last Friday's candle (inside bar) high @ 175.70 with an initial stop loss about $1 below its recent low @ $170.
Disclaimer:
This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management (ie trailing stop loss and position sizing) is (probably the most) important!
Take care and Good Luck!