CrowdStrike Holdings, Inc. (CRWD) Stock Forecasts

Summary

Driving the S&P 500 (SPX), Nasdaq 100 (QQQ) and Nasdaq Composite has been semiconductor stocks, led by Nvidia (NVDA). This stock is up 156% in 2024, with Micron Technology (MU +64%), Broadcom (AVGO +49%), Qualcomm (QCOM +48%) and Applied Materials (AMAT +46%) also surging. The slope of the semiconductor chart continues to steepen and there is potential bearish momentum divergence. iShares Semiconductor (SOXX) was recently 30% above its 50-week exponential average and was quite long. A step back would be welcome, but sooner or later the semis could go parabolic – which is fun while it lasts, but it’s always the final price explosion for a lead. Most other tech industries have not performed well in 2024, so it is also possible that funds making profits in tractor-trailers will move to other areas that could benefit from AI later. Interestingly, four of the tech sector’s biggest winners recently have been falling stocks such as Accenture (ACN), Epam Systems (EPAM), Salesforce.com (CRM), and Cognizant Technology (CTSH). All four charted weekly uptrends (closed above their previous week’s highs), while ACN charted a monthly uptrend. These stocks are clear beneficiaries of AI, but probably declining.