It's said about the weather that if you give it a few minutes it will change. The same could be true about sentiment for CrowdStrike Holdings Inc. (NASDAQ: CRWD). The company is a month away from earnings, and the stock is behaving in a volatile fashion. At the beginning of April, CRWD stock was looking oversold based on its Relative Strength Indicator (RSI).
However, the stock is leaning towards overbought territory as the calendar gets ready to flip. There are macroeconomic reasons for this. There is some concern that corporations will pull back on spending. And while cybersecurity spending is largely considered to be immune from this, it’s important to note that CrowdStrike has generated significant growth from it.
