CRWD Forms A Quick Wedge Making An Entry Point

CRWD chart

Crowdstrike just had amazing earnings and their stock gapped (See #2 on the graphic above) up because of it. We are just off the all time high set just a few days back.

Leading up to the earnings report we were in a 15 week long base that had a shakeout (#1). I like shakeouts because they eliminate weak holders, making moves to the upside easier.

We have now moved well past the base breakout point on very good volume (#3). That level of volume is a good sign that the institutions are accumulating. Now we are consolidating quickly with falling volume at the same time. (#4)

I have a half position of CRWD and if the stock breaks out on high volume I'm going to go all in and move to a full position. I have enough profits from the existing shares to keep myself from going negative on this trade.

I'm hoping to see the stock start to show healthy tennis ball action after the breakout. I'd love to see CRWD go on a good long run after coming out of such a long deep base on such positive earnings.

Updated Dec 15, 2020 by Scott
Fresh Content

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The AMZN chart looks a heck of a lot like TSLA just before it exploded into the $600 range.

Here's a quick explanation about why I opened a position in EXAS as it broke out of its' base.

Crowdstrike just had amazing earnings and their stock gapped up because of it. We are just off the all time high set just a few days back.

Paypal's breakout looked strong today. It finished the day at 98% of it's 30 day volume average and rose just over 3%. The volume seemed to be trending higher than 98% earlier in the day but it started to trail off. I was a little dissapointed in that but the trade still looks promising.

Updated Dec 15, 2020 by Scott