July 19 Chart of the Day - Crowdstrike

Talk about having a bad day...

You may have never heard of this cybersecurity technology company Crowdstrike (CRWD) before today.

The company is in the headlines today because it's the major reason for the global IT outage that started late last night.

Founded in 2011 and based in Austin, Texas, CrowdStrike operates in more than 170 countries and employed more than 7,900 people as of January. The U.S. accounted for nearly 70% of the more than $900 million in revenue it reported for the quarter ended April.

Today we'll take a look at their chart from a price action technical analysis perspective.

We have featured over 250 Charts of the Day since May 2023 and teach Price Action Trading for FREE  to traders who join our Highly Rated Trade Room.

Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews

Monthly Chart 

On the monthly chart we can see that after setting its $398.33 all time high (ATH) last month price was doing what price normally does after carving out new highs and that's just chilling.

Until today when it dropped over 12%.

Price cratered all the way down to the $300 area which just happens to be a major support/resistance level in the form of previous ATHs.  Technical analysis or news?

The bulls have yet to step in with any conviction and the "line in the sand" level seemingly is around this current zone.

Weekly Chart

 
On the weekly chart we can see with much more clarity the dramatic fall from ATHs and where price briefly shot up close to $400 then reversed starting a downward fall.

Trading around $300 earlier today price has been attempting to find an intra day bottom but unsuccessful so far.

Depending on how long the outage lasts could determine the next move for price.  Could this be level that price turns back to the upside or will it continue falling?

Only time will tell for sure what price will do next...

We've layered in traditional Fibonacci levels as well as support/resistance and trend to help identify potential price levels of interest and/or future price targets.

Armed with precision oriented charts like these both traders and investors can formulate their respective plans.

So what's next?