Crowdstrike Holdings (NASDAQ: CRWD) is a global cybersecurity leader based in Austin, Texas. It has an advanced cloud-native platform for protecting endpoints, cloud workloads, identities and data. In this article, we will be delve into the Elliott Wave structure based on the weekly cycle.
Last month, CRWD surged into new all time highs after breaking above 2021 peak and continued within the impressive +220% rally since January 2023 low. The stock is showing 3 waves advance from all time lows therefore it suggests the Super cycle is still in the early stage trading within wave I of (III).
The impulsive rally in wave I has the scoop to reach the weekly equal legs area at $358 - $421. Down from there, it could face 3 waves pullback in wave II which ideally will present the next investment opportunity for the stock before turning higher again within the strong wave III.
Short term Investors will continue to look for buying opportunity during corrective pullbacks in 3 , 7 or 11 swings until the 2023 ends. The cycle is expecting to end this year then it should present another entry within daily cycle for investors to take.
CRWD Weekly Chart 2.5.2024
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