CRWD Bearish Consolidation?
Updated
CRWD is off a little more than 30% from its highs. After a nearly straight line down, it has found buyers and shown consolidation. We are currently waiting for consolidation to break and provide direction. On the short side, we are looking to short near 210 down to support at 180 with a second target at 170 fib support. The stop on this short would be above 214. You could also take a long position above 212 for a trend reversal. The target on a reversal looks to be 225. Current trend is down so I am short biased and awaiting breakout confirmation.
Trade closed: target reached
Nice sell off beyond the profit target. Got wicked out the first time, but nice reentry.
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