CrowdStrike deepens declines, dropping 13% 📉SentinelOne gains 7% due to market share potential rising?

US cybersecurity company SentinelOne (S.US) is gaining nearly 7% today, while CrowdStrike (CRWD.US) shares are trading nearly 13% ahead today, deepening declines to $265 per share.

• Wall Street ties the improved sentiment around SentinelOne, to Microsoft's failure to update Falcon software, a CrowdStrike company. The incident underscored all the dangers of full dependence on one vendor.
• Other companies, such as SentinelOne and the Singularity platform the company provides, could benefit. This platform focuses on the security of data stored in the cloud and identity.
• This year, thanks to AI, SentineOne signed an agreement with the Cybersecurity and Infrastructure Security Agency (CISA), which only underscored the technological potential and security scale that SentinelOne offers as it strives for profitability.
• Given that the U.S. Department of Homeland Security Agency, will benefit from Singularity, the market sees some potential for protecting critical infrastructure data.
• To date, CrowdStrike (and Palo Alto Networks) has been one of SentinelOne's biggest competitors. As a result, Baird analysts have raised expectations for SentinelOne.

SentinelOne (S.US, D1 interval)

Source: xStation5

CrowdStrike (CRWD.US, D1 interval)

CrowdStrike shares are diving below the 200-session simple moving average, which has historically suggested a possible more permanent downward trend change. The RSI index below 20 points indicates an unprecedented oversold level.

Source: xStation5