CrowdStrike is eyeing to extend the upside movement after it broke past the US$175 resistance on strong volume.
RHB Investment Bank observes that the stock has charted a fresh “higher high” with the increasing volume, this shows the bullish momentum is rising.
Since the bulls possess the technical advantage, expect a follow-through of the positive price action to test the next resistance at US$185, followed by US$195.
On the other hand, falling below US$160 will negate the bullish setup and kick start the downward trajectory.
Meanwhile, Zscaler is attempting to stage a bullish breakout as it tested the US$165 resistance. If the stock breaks past the immediate resistance, this will improve market sentiment and attract fresh buying pressure.
In this case, the stock should climb towards the next resistance pegged at US$175, followed by US$185.
Also, breaching below the US$150 support would confirm a bearish setup and set off the correction phase.
