Long CRWD - Exiting Complex Correction into Wave 3 CRWD has been in a squeeze-like range for roughly a month following the run up beginning mid-December. IMO it will exit the current expanding wedge and into Wave 3 with my PT at $73.46. Above $65 I'm long via calls. It could retest the bottom Trend Line before pushing higher. This is a well-known name and an increasingly institutionally-owned name. As always due your own due-dilligence!
CRWD trade ideas
CRWD – Bullish Breakout, Bullish EMA Cross & 10WeekMAActively trading in CRWD. See entry details below.
Bullish pattern breakout with cyber-warfare benefits from Iran issue. www.bloomberg.com
Trade Entry
Jan. 10 Expiry - 54.5/57.5 Put Credit Spread.
Risk $120. Reward $180.
Credit of $1.80 or more. CRWD above $57.50 at expiry keeps entire $180 credit.
Exit at 50% profit or your risk tolerance. Keep if CRWD looks to be over $57.50 at expiry.
4 day hold.
Stops – $52.58 consider exit. Below $51.79 we lose the 10Week cross, exit for sure.
Chart Details
Flat bottom wedge is a bullish pattern.
Price has broken out bullish. Full bodied daily candle with small topping tail tells me price wants to go higher.
Bullish EMA cross on Daily view with 10WeekMA bullish price cross. This always provides positive returns on a weekly basis when both EMA and 10Week cross occur.
Gaps to fill up to $92.
Price will probably take breaks at previous resistance (pink lines $60 and $69).
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Disclosure - I am long BTCUSD, GBTC. Short term GDX Bullish, SPXS Bullish, CRWD Bullish short term.
2020 TurnaroundWith ARR coming in at 97% growth last quarter, Crowdstrike deserves the growth premium in my view. They have a leading position in their industry, and we have seen some solid volume support post most recent earnings. It looks to have been dragged down unfairly in the 2019 IPO wave, but the fundamentals tell a different story. Jumping into this one while sentiment is low.
CRWDWent slightly positive today +0.1, Relative volume was actually 1.5 from average. Seeing this as a Dead Cat bounce. Relative Option Volume 1.1, Iv Rank is 8.0%, Bullish option flow. Finally, 45.1 RSI, and -7.9% from the 20-day MA. 20-day MS vs 250-day MA is -20.6%
Dec-20 calls for Strike $51 are 0.63
$CRWD Crowdstrike Swings 15% afterhoursEntry level $58.71 - Traget price $66.32 Stop loss $56.65
Huge beat and raise for CRWD.
Earninsg Highlights
CrowdStrike Holdings (NASDAQ:CRWD) is down 2.3% after hours following a Q3 earnings report with a better-than-expected loss and raised guidance for the full year.
Revenue rose 88% overall (to $125.1M) and subscription revenue nearly doubled, hitting $114.2M.
Annual recurring revenue also rose 97%, to $501.7M.
Operating loss (non-GAAP) narrowed to $16.5M from a year-ago loss of $28.6M. Similarly, net loss shrank to $13.4M from a year-ago loss of $28.8M.
Cash from operations was $38.6M vs. a year-ago use of $3.6M; free cash flow was $7M, vs. the prior year's -$13.1M.
For Q4, it's guiding to total revenue of $135.9M-$138.6M (vs. consensus for $127.2M) and EPS of -$0.09 to -$0.08. (above consensus for -$0.11).
For the full year, it's raising expectations for revenues to $465.2M-$468M (above expectations for $450.2M), and sees EPS of -$0.53 to -$0.52 (above consensus for -$0.63). Liquidity increased to $833.7M as of quarter's end.
Source seeking alpha
43% short interest could result in massive rally
Company profile
CrowdStrike Holdings, Inc. operates as a holding company. It provides cloud-delivered solution for next-generation endpoint protection that offers cloud modules on its Falcon platform through SaaS subscription-based model. The company was founded by George P. Kurtz and Dmitri Alperovitch on November 7, 2011 and is headquartered in Sunnyvale, CA.