Downward trend with the rest of big tech and cloud software. We broke the falling wedge / channel bearish (slightly) to reach support at the pre-covid high.
If this ~$100 level becomes support bullish
If we break the ~$100 level, there are several places I see buying opportunities below:
(a) We may keep falling another 10-20% to the $80s, where CRWD had a gap up on its June 2020 earnings.
(b) The immediate pre-covid high (Feb 2020) of ~$67/share may become support support and another buying opportunity. ~33% down from here.
I may expect a short-term bounce off of $100 for a swing, but for 2023 I'm expecting the ~$100 level to break (recession).
If this ~$100 level becomes support bullish
If we break the ~$100 level, there are several places I see buying opportunities below:
(a) We may keep falling another 10-20% to the $80s, where CRWD had a gap up on its June 2020 earnings.
(b) The immediate pre-covid high (Feb 2020) of ~$67/share may become support support and another buying opportunity. ~33% down from here.
I may expect a short-term bounce off of $100 for a swing, but for 2023 I'm expecting the ~$100 level to break (recession).