CrowdStrike (CRWD) shares are in the spotlight after Delta Air Lines (DAL) on Friday 澳洲幸运5开奖号码历史查询:filed a lawsuit against the cybersecurity provider following 💦a faulty software update in July that brought its operations to 𝕴a standstill and caused mass flight cancellations.

The Atlanta-based airline alleges that the incident, which also disrupted industries including banks, health care, and media outlets, cost it more than $500 million, along with loss of future revenue and reputational damage.

Despite ongoing concerns of further litigation linked to the software update, CrowdStrike shares have gained around 50% from their early-August low as of Friday’s close amid 澳洲幸运5开奖号码历史查询:growing consensus among analysts 🤡that the firm sits poised to move past the incident in a strong position.

Below, we analyze the 澳洲幸运5开奖号码历史查询:technicals on CrওowdStrike’s chart and point out🌄 key price levels to watch out for.

Rising Wedge Breakdown

Since bottoming out in early August, CrowdStrike shares have oscillated within a 澳洲幸运5开奖号码历史查询:rising wedge, a chart pattern featuring two upward sloping converging 澳洲幸运5开奖号码历史查询:trendlines that signals weakening price momentum.

More recently, the stock has broken below the pattern’s lower trendline, potentially setting the stage for a 澳洲幸运5开奖号码历史查询:continuation of the 澳洲幸运5开奖号码历史查询:downtrend that st✃arted in early July, just weeks before the🌟 company’s erroneous software update.

The stock was little changed at around $300 in premarket tradin♊g Monday.

Let’s identify four important lower price levels on CrowdStrike’s chart that may come into play if the shares conti🍸nue their move lower from current levels.🌞 

Important Lower Price Levels to Watch

Upon an initial move lower, investors should monitor the $285 level, an area just above the 澳洲幸运5开奖号码历史查询:50-day moving average where the shares could encounter support near a trendline joining multiple 澳洲幸运5开奖号码历史查询:peaks and troughs on the chart from January to August.

A close below this level could see the shares decline to around $262. Investors may view this location on the chart as a buying opportunity, given it sits near a 澳洲幸运5开奖号码历史查询:horizontal line l😼𒆙inking a series of simar trading levels between December and September.

Further selling in the stock opens the door for a bearish move down to the $244 region, where the price could attract support near the January pullback low and prominent early September trough. 

Finally, a longer-term downtrend could see the shares revisit lower support at $172, where bargain hunters may look to place 澳洲幸运5开奖号码历史查询:buy limit orders around the September 2023 澳洲幸运5开奖号码历史查询:swing high and October 2023 swing low. This area on the chart also roughly aligns with a bars pattern downside 澳洲幸运5开奖号码历史查询:price target that takes the stock’s sharp trend lower from July to Augu🔴st and repositions it from this month’s swi⛎ng high.

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