Crowdstrike Reacting from Weekly Bluebox Area

Crowdstrike Holdings, Inc. is an US American cybersecurity technology company. It provides cloud workload and endpoint security, threat intelligence, and cyberattack response services. 

Founded 2011 and headquartered in Austin, Texas, U.S., it is a part of the NASDAQ-100 index. One can trade Crowdstrike under the ticker $CRWD at NASDAQ.

Crowdstrike Weekly Elliott Wave Analysis 1.10.2024

The weekly chart below shows the Crowdstrike shares $CRWD traded at NASDAQ. From the lows, the stock price has developed an initial cycle higher in blue wave (I) of super cycle degree towards $298.48 highs in November 2021. Hereby, red wave III shows an extension beyond 2.0x as related to the initial wave I. After the impulsive structure higher, a correction lower in blue wave (II) has unfolded as an Elliott wave double three pattern being 3-3-3 structure. Firstly, red wave w of blue wave (II) has printed a low at $150.02 in January 2022. Then, a bounce has set a connector wave x at $242 lower highs in April 2022. Later on, the price has broken $150.02 lows opening up a bearish sequence. Consequently, the target area for red wave y is 94.08-2.44 range. It has been reached and the reaction out the area has started.

It is the preferred view, that blue wave (II) has bottomed in January 2023. While above $92.25, a new bullish cycle in blue wave (III) might have started. Break of the $298.48 highs will confirm that. The target for blue wave (III) is 391-575 area and even higher. Currently, we see red wave I in progress. Within it, black wave ((3)) is within an extension relatively to black wave ((1)). Indeed, it has surpassed 1.618x of the wave ((1)). Short-term, next targets are $290.30 (2.0x) and $336.57 (2.618x). Once ended, expect black waves ((4))-((5)) to accomplish impulsive structure within wave I.

Firstly, investors and traders should be waiting for red wave I to end. Then, they can be looking to buy $CRWD in a pullback as red wave II in 3, 7 swings against $92.25 lows for an acceleration higher in red wave III of blue wave (III).