CrowdStrike Stock Has Support Ahead of SPX Inclusion

The stock's recent peaks come amid historically low volatility

Deputy Editor
Jun 13, 2024 at 3:04 PM
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CrowdStrike Holdings Inc (NASDAQ:CRWD) stock just keep clocking record highs lately, up 50.7% year to date. As a whole, the cybersecurity sector has been buzzing as artificial intelligence (AI) continues to grow. Plus, CRWD is set to join the S&P 500 Index (SPX), effective June 24. 

The equity hit a fresh all-time peak of $390.70 just last session, though it's down 0.9% to trade at $383.92 at last glance today. This outperformance comes amid historically low implied volatility (IV), which has been a bullish combination for the stock in the past. Per Schaeffer's Senior Quantitative Analyst Rocky White, there were nine times in the past five years when the security was trading within 2% of its 52-week high, while its Schaeffer's Volatility Index (SVI) sat in the 20th percentile of its annual range or lower. 

This is currently the case with CRWD's SVI of 34%, which sits in the low 6th percentile of its annual range. White's data showed that CrowdStrike was higher one month later after six of these signals, averaging a 7.5% gain. And just looking at how much the stock has added over these five years, the year over year return after each of these signals is a staggering 156.3%. 

CRWD June 13

 

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