CrowdStrike Holdings, Inc. is a cybersecurity technology company based in Austin, Texas, providing various security services such as cloud workload and endpoint security, threat intelligence, and cyberattack response. The market forecast for CrowdStrike made three years ago has been analyzed, focusing on the completion of market cycles, impulse waves, corrections, and future projections based on Elliott Wave Theory.
Initially, the forecast predicted an important market cycle’s end in a specific blue box area, pointing at the completion of an impulse wave since the company’s listing. The analysis indicated the end of wave (I) and the start of a significant correction as wave (II), leading towards a new cycle with a potential rally.
After six months, the actual market scenario reflected the completion of wave (I) within the projected blue box area and a successful double correction as wave (II). The stock price bounced at the 50% Fibonacci retracement level, indicating the end of the pullback and a potential rally towards breaking the previous high.
Looking three years ahead, the weekly chart revealed a more comprehensive view of the market cycles, including the completion of wave (II) at 150.02 as part of a larger double correction. The analysis identified wave ‘w,’ ‘x,’ and ‘y’ within the correction, leading to a strong rally starting from January 2023. The market saw new all-time highs at 365.00 before facing a significant drop, potentially indicating the end of wave I of (III).
The recent market movements showed a sharp decline, causing a 50% loss in the stock value. The analysis suggested the completion of wave II or as part of a more extensive wave II correction. The global market trends indicated bullish exhaustion, hinting at potential further downside before a potential corrective rally and resumption of the uptrend.
The analysis of CrowdStrike Holdings, Inc.’s market forecast over the years highlighted the completion of various market cycles, impulse waves, corrections, and potential future projections based on Elliott Wave Theory. The detailed examination of past predictions and current market scenarios provided insights into the company’s stock movements and potential future trends for investors and traders to consider.