Is CrowdStrike stock still a buy after falling -9.72% on Tuesday?

The CrowdStrike stock price fell by -9.72% on the last day (Tuesday, 30th Jul 2024) from $258.81 to $233.65. During the last trading day the stock fluctuated 9.77% from a day low at $226.22 to a day high of $248.33. The price has fallen in 7 of the last 10 days and is down by -36.69% for this period. Volume has increased on the last day by 15 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 26 million shares were bought and sold for approximately $5.96 billion.

On Jul 29, 2024, it was reported that Morgan Stanley gave CRWD a "Overweight" grade with a "hold" action.

Given the current horizontal trend, you can expect CrowdStrike stock with a 90% probability to be traded between $231.79 and $388.01 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

There are few to no technical positive signals at the moment. The CrowdStrike stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $256.24 and $353.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, July 01, 2024, and so far it has fallen -40.42%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $22.11 between high and low, or 9.77%. For the last week, the stock has had daily average volatility of 5.73%.

CrowdStrike is oversold on RSI14 (10). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

CrowdStrike holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.