Breakout In Wave Setup CRWD

Stock Waves highlighted CRWD as a Wave Setup on May 5 at 121.83, with co-host Garrett Patten noting it was "turning up from the top end of retrace support for wave 2."

The stock went on to break through the noted resistance level of 150 a week ago Thursday, prompting an updated Wave Setup this past Monday, in which Zac Mannes indicated it still had room higher in the (iii) of circle wave  iii (of the larger wave 3).

That level specifically was 161.41 (the 138.2% extension), and the stock got up to a high of 161.79 on Wednesday.

Zac's post also discussed a key support level that would shift the wave 3 from an "impulse" to a "diagonal," and elaborated further about a possible short-term drop in a post on Wednesday ahead of the company's earnings release after the close.  CRWD did, in fact, drop around 13% after hours on ER, but recovered a significant chunk of that by the open.

"Prescient post," noted member MollyB.

"Zac, superb work once again," added Taffytus.