When we looked at CrowdStrike Holdings (CRWD) on Dec. 4, we wrote that, "Assuming some traders went long CRWD on weakness in the first half of November, use a sell stop at $121. Our first price target is $203." CRWD quickly reached our target and more but now the charts have begun to weaken.
Let's check the charts and indicators once again.
In the daily bar chart of CRWD, below, we can see that the shares have encountered some resistance in the $240 area. Prices have moved lower and trade below the rising 50-day moving average line.
The On-Balance-Volume (OBV) line has been neutral since late December telling us that there is a balance between buyers and sellers. The Moving Average Convergence Divergence (MACD) oscillator is pointed down and fast approaching the zero line.