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CRM likely test 215 to gap close, buyable on technical reversalCRM has gained 48% this yr or 50 bil market cap into a total of 200 bil. The gain is a small potato compared to the new market darling such as SNOW, DASH, AI and ZM, PTON, ETSY, CHWY. It has the disadvantage of a large flow and low short interest so it's not a cult stock. So it acted like all mega-caps like AMZN AAPL FB NFLX with large flow and small short interest, it's choppy aimlessly. It's a stock to consider at money IC or 2 ATR and plus an upside butterfly as it is close at ST support. One is to generate income and the other is to anticipate a bounce but not a huge one, $20 to 30 upside. The range is 220 to 250 where there would be major resistance.
NYSE:CRM
by Jonas99
1
Zoom testing convoluted levelTechnical analysis From October 19th, we have seen a 26-trading-day downtrend. The second attempt to break the trend was at the 38.2% fibonacci retracement level, which failed. We are now trying to test the same downtrend line (Red arrow), while also testing the 61.8% fibonacci retracement level. The 50sma which is converging with the 50% Fib; which seems to have a heavy resistance weight. OBV is in a range. Rotation analysis Cloud/WFH stocks saw a big rally in response to the pandemic. With vaccine news, the gave some of it back. Looking at the ratio of Value vs Growth in the $SPX, we still haven't broken the uptrend; indicating strength is still in play in growth. I expect the small caps to continue to outperform if we get the stimulus that is anticipated in the next couple of months.
NASDAQ:ZM
by dorfmanmaster
SAP ready for a slow n steady climb back up ? SAP was until recently the largest tech company in Europe, Now replaced by PROSUS but after a disappointing Q3 earnings it fell 20%+. Total revenue fell 4% to €6.54 billion, cloud and software revenue fell 2% and operating profit fell 12%. However, Pure-cloud services grew 11%, to €1.98 billion. SAP’s revenue was around €300 million under expectations, though per-share profit beat expectations. “Over the next two years, we expect to see muted growth of revenue accompanied by a flat to slightly lower operating profit. After 2022 momentum will pick up considerably though. Initial headwinds of the accelerated cloud transition will start to turn into tailwinds for revenue and profit. That translates to accelerated revenue growth and double digit operating profit growth from 2023 onwards,” SAP CFO Luka Mucic said in a call with analysts. Looking to scale in when price is in BUY ZONE (purple box), with Entry target of $100. Stop Loss $90. Exit target MINIMUM 2:1 RR , look at levels to find an exit. This will probably be a longer term play due to the revised forecast targets being pushed back from 2023 to 2025 THIS IS NOT FINANCIAL ADVICE, JUST A RANDOM IDEA
NYSE:SAPLong
by STONKZZZ
Cup formed, handle next, run into earningsUpdating my ADSK idea from a few days back which has played out nicely. This has formed a nice cup and considering 1. the bullish week it had and 2. the fib retracement (1) and extension (1.618) immediately above, it should bounce off resistance to begin forming the handle. I am reticent to predict an exact path but I think there is a good likelihood that consolidates below, potentially creating a proportional handle at 30% of the cup, before moving upward to new ATH in a pre-earnings run up. In the past version I had incorrectly listed the 1.618 extension by a point and have updated it to 265.85. I have also updated the upper trend line and fib extensions above.
NASDAQ:ADSKLong
by SpinTrades