Earnings season presents so many opportunities, especially during a secular bull market advance. We appear to have another one of those advances underway and the daily opportunities are increasing. The difference between a breakout and a failed breakout, however, many times comes down to one simple number - the closing price. CrowdStrike Holdings, Inc. (CRWD) will be a perfect example today. Software ($DJUSSW) has been very strong and CRWD is nearing a 9-month relative high, which will likely be cleared if CRWD can negotiate price resistance at the close today:
Adding to the bullishness here is the cup with handle continuation pattern. A breakout of this pattern would measure another 50 bucks higher to the 335-340 area.
That's enough potential to have me watching CRWD closely into today's close. If you'd like to have similar opportunities presented throughout the course of earnings season, you can subscribe to my FREE 3x per week EB Digest newsletter by CLICKING HERE and entering your name and email address. There's no credit card required and you may unsubscribe at any time.
Tom Bowley, Chief Market Strategist