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CrowdStrike Holdings (CRWD) Recently Broke Out Above the 20-Day Moving Average
CrowdStrike Holdings (CRWD - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, CRWD broke through the 20-day moving average, which suggests a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.
Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.
Over the past four weeks, CRWD has gained 8.2%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.
The bullish case only gets stronger once investors take into account CRWD's positive earnings estimate revisions. There have been 9 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on CRWD for more gains in the near future.