Cybersecurity Sector Check-In as Alphabet Makes Its Move

CRWD and FTNT are testing long-distance trendlines on the charts

Fernanda Horner

Digital Content Manager

Jul 15, 2024 at 3:10 PM

Cybersecurity stocks are in focus today, as Alphabet (GOOGL) moves forward with the potential acquisition of startup Wiz for $23 billion. The rest of the sector is getting a halo lift in response to the Big Tech exposure, so where does that leave the movers and shakers?

Crowdstrike Holdings Inc (NASDAQ:CRWD) stock was last seen up 1.4% to trade at $376.49, consolidating below its June 9 record high of $398.32. The shares have been trading in a tight range since their June 5, post-earnings bull gap of 12%, and are up 47.8% so far in 2024.

The shares of Zscaler Inc (NASDAQ:ZS) are 1.9% higher to trade at $205.63 at last check, continuing an uptrend that has now successfully cleared their 160-day moving average. ZS is still down 7.3% in 2024, though, and is a ways off its Feb. 9 two-year high of $259.61.

Fortinet Inc (NASDAQ:FTNT) is another name to watch, only up 0.8% to trade at $60.02 a last glance. The shares have been rangebound since a May 3, post-earnings drawdown of 9.7%, with their 200-day moving average looming above for the past several weeks.

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