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Technical Analysis
Elliott Wave Analysis by EWF
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[QUOTE="Elliottwave-Forecast, post: 208780, member: 40858"] CrowdStrike Holdings, Inc. is an American cybersecurity technology company based in Austin, Texas. Providing cloud workload and endpoint security, threat intelligence, and cyberattack response services. They have a market value of $51b. They generated sales of up to $1.5b within the last 12 months. We have noticed a huge demand of CrowdStrike due increase numbers of remote working which increased the demand for cloud computing. CrowdStrike could reach $3 billion in annual revenue in 2023, a year earlier than the company’s guidance, according to a BI analysis. Lets take a look at why we like this stock this quarter throughout to the end of the year. [HEADING=3]Weekly Timeframe - 25th May 2022[/HEADING] [IMG]https://elliottwave-forecast.com/wp-content/uploads/2022/05/CRWD_2022-05-25_18-32-25-1-1024x560.png[/IMG] As you can see here, we completed a 5 wave sequence to complete wave I on a higher degree. Ever since November 2021 highs at $298, we have been correcting in a 7 swing structure to the downside with an invalidation level at $31.95. Lets take a look at the correction we are unfolding at the moment. [HEADING=3]Daily Timeframe - 25th May 2022[IMG]https://elliottwave-forecast.com/wp-content/uploads/2022/05/CRWD_2022-05-25_18-33-47-1024x560.png[/IMG][/HEADING] Daily timeframe, we are unfolding a double correction. This is a good sign considering that a WXY is more corrective in nature as opposed to a ZigZag - ABC. Currently within wave ((Y)) we are unfolding in wave (B) as a triangle and should be unfolding in a 5 wave sequence into wave (C). In order to complete this corrective cycle, I would like to see a 5 wave sequence to the upside to confirm this correction is done. I believe we will continue to see this climb in the near term future for a long time as more security would be required due to everything going into the cloud. Source: [URL]https://elliottwave-forecast.com/elliottwave/crowdstrike-stock-watch-2022/[/URL] [/QUOTE]
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