‘Somebody, Always Knows …’

CrowdStrike may have reached a top, or maybe ‘the’ top (not advice, not a recommendation).

Depending on price action, this update could be part of a series.

With the chart below, we’re going to start first with ‘then’, and also first, with some background on the cyber ‘glitch’.

Background

The software crash of July 19th, 2024, was the result of an update, not external cyber-attack, link here.

Damage as result of lost revenue (for subscribers), was in the $Billions … with a ‘B’. 🙂

The effects of that loss are still reverberating, evidenced by CrowdStrike’s earnings, links here, here, and last year, here.

CrowdStrike CRWD, Daily

As noted (on the chart), there was clear evidence something was wrong, well before the ‘glitch’.

The most recent earnings release saw a sharp drop, -8.9%, at the lows; volume doubled from the prior session.

Then, nine trading days later, CRWD, inches to a new all-time high.

Yesterday’s action was down with a potential ‘change of character’.

Currently short: CRWD-25-04, with a stop near the session high (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279