$CRWD closing above 20 Day SMA $ and FIB Retracement levels

The bellwether cybersecurity cos Crowdstrike had a very bad 2024 after the disastrous failed upgrade which caused major outages globally. Yesterday the stock closed at 408 $ which is at an ATH. Today in a week market it is still above the 20 Day SMA @ 362 $ and the 1.0 Fib retracement level @ 396 $. If these key support levels hold it is good idea to go long on CRWD. In our Daily Dose of Chart : 07 Jan 2025 we spoke about a bullish Head and shoulders pattern. But this pattern is now invalidated. So, within the tech sector we are seeing intra sector rotation with NVDA @ its 200 Day SMA support and CRWD @ ATH. I think this weakness in Semis vs Cybersecurity will continue for some time. Please check out my post on 27th Jan for NVDA trade idea.

Penafian