[isatrader]

This was originally posted in the main blog on the 30th August 2021 here: crwd-stage-2-breakout. But reposting here to start off this thread on position trading and investing as it has since had earnings. So will update at the end of the post over the weekend.

$CRWD - Stage 2 Breakout (30th August 2021)

$CRWD Crowdstrike Holdings made a new Stage 2 breakout last week from a seven month base structure on more than 2x weekly average volume and with relative strength versus the S&P 500 at new highs.

       

The breakout in $CRWD came following the announcement that it will be added to the Nasdaq 100, the Nasdaq 100 Equal Weighted Index and the Nasdaq 100 Technology Indexes, which brought in large institutional volume that drove it higher into the end of the week to complete the new Stage 2 breakout. In the short term it's now quite extended, so if demand can't continue to push it higher this coming week, then it could consolidate or backup into near term support around the 260-270 area. So I'll be watching for how it behaves around that area on any backup. i.e. does it pullback on lighter volume with the daily price range tightening up, or is the pullback on heavier volume and wider price spread. As the character of any pullback or consolidation will give further clues as to whether it's being supported by institutions or not, and then if it is, it will help to define a new potential low risk entry point.

Earnings: 8/31/2021 (AMC)

CRWD Stock Point & Figure Horizontal Price Target (Wyckoff method)

The Wyckoff method P&F horizontal count line is 23 columns with a 5 box size by 3 reversal chart. Which added onto the Base Low at 170 and the Last Point of Support (LPS) at 230, gives a target range of 515 to 575. Hence the potential Cause from the 7 month base is 80%+ from the current price level.

   

CRWD Stock Annual fundamentals + future estimates