CrowdStrike: Member of a Small ClubThe broader market has been tumbling for months, but CrowdStrike has stood its ground.
The first pattern on today’s chart is the March 10 low of $303.79. While the Nasdaq-100 has revisited levels from over a year ago, CRWD has held lows from a month prior. Support at such a recent level may reflect positive sentiment.
Second, Wilder’s Relative Strength Index (RSI) made a higher low as the cybersecurity company made a slightly lower low. That positive divergence could also be viewed as a bullish signal.
Third, the 50-day simple moving average (SMA) had a “golden cross” above the 200-day SMA in November and has stayed there since. Is a longer-term uptrend still in effect?
Speaking of SMAs, CRWD is above its 20- and 200-day SMAs. That puts it in relatively elite clubs: Only 104 members of the S&P 500 are above their 20-day SMAs and just 138 are above their 200-day SMAs, according to TradeStation data.
Those points may also suggest sellers have been less active in the name.
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