Jul. 15 at 3:41 PM
$CRWD +12.1% to
$211
$PANW +6.8% to
$353 yesterday
CRWD’s second leg has reached about 90% of the first move, with a potential target near
$235 based on a 100% extension.
PANW’s parabolic R2 structure remains intact, with a potential target around
$404.
Both moves look stretched, but there is no clear reversal signal yet. A rejection near
$235 for CRWD or a break of PANW’s steep trendline would be the first signs of weakness.
This appears to be a sector rotation, with capital moving from semiconductors into software, and within software from legacy names into cybersecurity.