CrowdStrike Holdings, Inc ticker symbol CRWD. provides cybersecurity products and services to stop breaches. It offers cloud-delivered protection across endpoints, cloud workloads, identity, and data. Threat intelligence, managed security services, IT operations management, threat hunting, Zero Trust identity protection, and log management. CrowdStrike serves customers worldwide. In this technical blog, we will be going to look at the Elliott wave analysis below:
CRWD Weekly Elliott Wave View
Above is the Weekly Elliott wave view from 8/10/2022. In which, the cycle from all-time low has ended in 5 waves impulse sequence & now doing a pullback. The pullback from the 11/10/2021 peak is unfolding as Elliott wave zigzag correction & shows a lower low sequence. While the initial decline to $150.02 low ended wave of a zigzag correction & made a bounce higher. Which then ended at $242 high. Down from there, the stock can be looking to extend lower towards $94.12- $59.14 area lower to reach the extreme before finding buyers again.
CRWD Daily Elliott Wave View
Above is the Daily Elliott wave view showing lesser degree oscillations taking place. Near-term, as far as it remains below the $242.02 high some more downside is expected to take place to complete the zigzag correction from November 2021 peak.