A couple of chart setups
Crowdstrike still looks quite strong to me. The DeMARK setups also are lining up well. I have a 253 target in the medium term on the trade. Risk against the earnings low this week. Still a good risk-reward setup.
The stock is actually starting to finally outperform the HACK (Cybersec industry ETF)
Today's pain in Micron might be an opportunity in the medium term. My weekly trend model shows the 73-70 region as possible support that should manifest itself soon.
With the IV sitting at around 61% and the average volume 20% above the 20-day average, it seems like there is some pressure under the surface for this name. Overall, the stock is down around ~20 on a rolling 52 week basis. The R2K semiconductor index is up 16% during that time. Micron trades at 8x earnings.
I do know one thing though, if the Russell 2000 fails to hold any traction here, this is a massive downside break that would target a move all the way down to 1700. There is a lot of "air" between 1600 and the current price of ~2000. Why? During the 2020 bull run the index did not trade much through that range. Prices will hunt until they find value.
Like Micron, AMD is showing a similar zone with regard to weekly range trend models indicating that we might find some support soon.
Stay tuned for an update after close. Video briefs and DeMARK scans this weekend!