CrowdStrike poised for further gains after cyber attack on Chinese AI startup
CrowdStrike (CRWD) shares surged over 9% on Tuesday following news of a cyber attack on Chinese AI startup DeepSeek, setting the stage for further upside.
Technical Analysis:
* Rectangle Pattern Breakout: CrowdStrike broke above a rectangle formation on Tuesday, confirming a continuation of its uptrend.
* Relative Strength Index (RSI): RSI above 70 indicates bullish momentum, but also suggests potential profit-taking.
* Upside Target: Bars pattern tool forecasts a target of $735, based on a prior breakout from a similar rectangle pattern.
Key Support Levels:
* $378: Retracement level to the rectangle pattern's upper trendline.
* $338: Horizontal support level from a previous peak and the rectangle pattern's lower trendline.
Market Sentiment:
* The cyber attack on DeepSeek highlights the growing demand for cybersecurity solutions.
* CrowdStrike's Falcon cybersecurity platform achieved a perfect score in a real-world ransomware test, boosting investor sentiment.
Disclaimer: This information is for informational purposes only and should not be considered investment advice.