In our most recent weekly market watch newsletter, we pointed out that First Trust NASDAQ Cybersecurity ETF (CIBR) was one of a few tech exchange-traded funds (ETF) to make gains as the NASDAQ endured some profit taking. CIBR was the fish swimming upstream.
We highlighted Cisco Systems, Inc. (CSCO) as a company that could be positioned to move higher as the ETFs number four holding. CrowdStrike Holdings, Inc. (CRWD) is another CIBR holding that has some near-term technical potential according to our technical analysis.
CrowdStrike is a global cybersecurity company. Featuring its CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft, and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting and prioritized observability of vulnerabilities. The Falcon platform delivers rapid and scalable deployment, superior protection and performance, reduced complexity, and immediate time-to-value.
The tech company’s shares had been on the decline since late last summer, tumbling from more than $200 per share to a 52-week low of $92.25 in early 2023. CRWD shares recently busted out of the downtrend and moved to the better side of its 50-day moving average.
Now, it looks like the stock could be on the verge of going higher. Shares recently got to the better side of resistance at $120 and doesn’t have much technical overhead until skinny resistance at $140. Then, it’s off to the 200-day mark of $152.38. As for downside, the 50-day moving average of $107.47 should prove to be solid footing.
Remember, short-term trading is very risky and only for the most aggressive investors that can afford to lose money in short order.