Stock of the Day: Will CrowdStrike Reverse off of this Important Level?

CrowdStrike Holdings, Inc. (NASDAQ: CRWD ) shares have dropped almost 15% over the past week. If they continue to trend lower, there’s a good chance they find support around the $117 level. This is why CrowdStrike is the Stock of the Day. Successful traders understand basic market principles. One of the most important of them is that certain price levels are more important than others. Sometimes the reason for the importance is not obvious. But this is not important. Being able to recognize it is. As you can see on the chart, the $177 level is important for CrowdStrike. In July, the stock was in a downtrend. Nervous and anxious sellers had to undercut each other to draw buyers in. But when the stock reached $177, they came out of the woodwork. The sellers could unload as much as they wanted to without t...