Watch the volume and follow the $CRWD.CRWD
This is Scott with your Chart of the Day. I want to take a look at CrowdStrike ( NASDAQ: CRWD ). CrowdStrike ( NASDAQ: CRWD ) had a pretty good run throughout this rally. Recently it has pulled back to support right back down to the 50-day moving average. It had a little bit of a shakeout here, a high volume shakeout, but they zipped it back up and now it is just consolidating right around these key moving averages.
Now, over the last couple of sessions here if I bring in the volume indicator you can see it continues to go up on high volume pull back on low volume. Go up on high volume, pull back on low volume. I like what CrowdStrike ( NASDAQ: CRWD ) is doing here. It is just kind of consolidating right around these moving averages.
What I want to see from CrowdStrike ( NASDAQ: CRWD ) is a push higher. What I can do is, I can draw a downward sloping trendline from this high here, which is when the stock started to pull back and it kind of matches up nicely with the high from here, the high from here, and the high from today. So we have a clearly defined level that we can trade against.
What I think you wan to do is set an alert on CrowdStrike ( NASDAQ: CRWD ) at around 140.10 and take a look at it. You will want to see a high-volume move above this downward sloping trendline. Now, for a short-term swing target, I think you can look to this high here and maybe have a short-term swing target of around 150.00. And then a secondary target up here at around 155.00.
So two key levels to watch on CrowdStrike ( NASDAQ: CRWD ). Maybe have an alert on this right around 140.00 and you would want to swing that to around 150.00. I will say they do have earnings coming up in the first week of December so you would want to have a good cushion. You would really want to let this thing go and see it go higher if you are going to hold over earnings. Otherwise, who knows what could happen?
That is one stock that I am watching; maybe add it to your watch list as well.