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CrowdStrike Holdings Stock News: Dragonfly doji leads CRWD to all-time high

  • CrowdStrike hit an all-time high on Tuesday.
  • The swing high is likely to continue after Monday’s dragonfly doji.
  • Bulls should target $284.88 – the 161.8% Fibo.

CrowdStrike Holdings (NASDAQ: CRWD) stock bounced back from Monday’s uncertainty to claim a new all-time high of $257.55 on a nearly 8% bounce. CRWD shares remained buoyant in the premarket as investors anticipate a continuing swing high on Wednesday, June 23.

Crowdstrike Price Prediction: Expect CRWD stock to soar

One of the fastest growing names in the cybersecurity space, on Monday CrowdStrike stock ricocheted down from the earlier all-time high from February 16 that last Friday’s session brought it near. In the interim since February, CRWD stock had fallen as far as $168 in the doldrums of March. Monday’s session saw CRWD drop precipitously on a gap down and seemed to announce the end of the recent bull run that began in mid-May. But the end of Monday’s session turned the long red daily candle into a dragonfly doji, typically a heavily bullish indicator when it comes in the midst of an upward trend.

On top of the chart already looking ready to roar on Tuesday, sell-side firm Stifel Nicolaus updated its price target to $300. Though CRWD stock is richly valued at the moment, Stifel analysts said that Q1 subscriptions were up 82% YoY and that revenue would likely continue 2020’s steep rise. Revenue rose from $481 million in fiscal 2020 to $874 million in fiscal 2021. Though CrowdStrike is still unprofitable on a GAAP basis, net losses fell from $142 million to $93 million over that same period.

At present, the Relative Strength Indicator (RSI) on the daily chart gives a reading of 71, ever so slightly in overbought territory. CRWD stock has not been above 70 since the first half of January. Support comes from the 20-day Simple Moving Average (SMA) at $226.21. Below here the 23.6% Fibonacci retracement comes in at $215.23, right above the 50-day SMA at $213.23. But since you are all here wondering where bulls should hope to target, the nearest upside goal is $284.88 at the 161.8% Fibonacci. Above that is only the $300 Stifel price target, which may tempt the bullest of bulls.