CrowdStrike (CRWD) shares are in the spotlight after Delta Air Lines (DAL) on Friday filed a lawsuit against the cybersecurity provider following a faulty software update in July that brought its operations to a standstill and caused mass flight cancellations.
The Atlanta-based airline alleges that the incident, which also disrupted industries including banks, health care, and media outlets, cost it more than $500 million, along with loss of future revenue and reputational damage.
Despite ongoing concerns of further litigation linked to the software update, CrowdStrike shares have gained around 50% from their early-August low as of Friday’s close amid growing consensus among analysts that the firm sits poised to move past the incident in a strong position.
Below, we analyze the technicals on CrowdStrike’s chart and point out key price levels to watch out for.
Since bottoming out in early August, CrowdStrike shares have oscillated within a rising wedge, …