I called correctly that CrowdStrike was a good buy for the medium-term investment horizon back in February. After bottoming at $92 it then rose to $139 within 3 months. It has since sold off to $115 and risen again to close yesterday at $130.
I’m confident that CrowdStrike will hold at this level and rise again over the next few months as the stock appears to have good momentum and excellent growth prospects.
I would assume there are split opinions regarding whether CrowdStrike is currently in positive or negative momentum. You could just as easily say the stock looks like it could decline from here as you could say it’s going to rise. If you zoom out and check the monthly chart, the stock may just be bouncing temporarily. However, with a deeper analysis, I would argue the stock looks like good value here and it could be about to rise similar to how Google kept rising from its bottom in November. Google’s stock hasn’t stopped rising yet. I feel the sentiment is similar for CrowdStrike where many investors were loving the chance to buy in at the lows.
CrowdStrike has a market cap of 30.01B and a forward P/E of 43.87. Its short float is 3.48% and its RSI is 53.41. Many investors are choosing to stay on the sidelines rather than buy into stocks because we’re in a bear market where stocks on average aren’t expected to rise as though they are in a bull market. But for those with very short-term investment horizons of a few weeks to a few months, this looks like a good time to buy provided the overall market doesn’t capitulate.