Descending broadening wedgeUpdated lines from previous mention. Pattern is looking to take shape. Let's see how it plays out. This is a bullish pattern, but should drop to or below 165.
CRM
Descending broadening wedgeLooks like we have a nice descending broadening wedge formation. We are more then likely heading down within the pattern, around 165. Note this is a bullish pattern but we shouldn't break new highs until we hit these lows.
Not financial advice. Always do your DD.
CRM - good long opportunity I count CRM as wave (4) of circle wave 3 complete. Expect to see at least 400 level (5=1), ideal target is 600 zone.
$CRM - OverboughtCRM is extremely overbought along with the rest of the market. CEO is wasting money on private concerts, though they do have the money to do that so kudos to them.
But mostly it's overbought and a pullback has to happen, might as well as ride it.
CRM's Inverse Head and Shoulders aiming at $240 by Q4Salesforce Inc (CRM) broke above its Inverse Head and Shoulders (IH&S) pattern and by early next week should form a Golden Cross on the 1D time-frame. With the MACD just forming a Bullish Cross, we have all the confirmation we need to go heavily bullish on CRM and with the Support of the 1D MA100 (green trend-line) on the long-term, target the 0.618 Fibonacci retracement level at $240 by Q4.
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Where will CRM go today?As you might now, later that day CRM will publish their earnings. What is priced in in the options and what does that tell us?
IV, IM
- We have a very high Implied Volatility. The calculated Implied Move is 14.90 USD according to my data. Therefore the lower Zone is at ~148 and the upper zone is at ~178. This is a 9% move!
- Remember the Implied Volatility is equal to one standard deviation. Therefor the chance is 68% that the price stays within the zone from 148 - 178 after earnings.
PUTS
- The number of Put-Options out-of-the-money compared to the Put-Option in-the-money is 91.59%. Remember, when Put-Options will be in-the-money at expiration they are assigned. Hence Option Traders speculate on a change of price and not want to buy or sell the underlying, you can safely assume, that the vast majority (91%) of all Option Traders believe, that the price will not drop any further.
- The most traded Put Option price is at 150 USD. 46% of all traders believe, the price will not drop below 150 USD.
- If the price would drop below 150, many shares will be assigned and bought at that price. Therefor, 150 USD will act as natural resistance.
CALLS
- Calls out and in-the-money are very even. There is no signal to recognize.
- The most traded Call is at 157.50. Hence Calls become worthless when they are out-of-the-money at expiration, its safe to assume that 42% of all Option-Trader that buy Callls, believe the price will be above 157.50 USD.
Summarize:
- Resistance at 150 due to Put Options
- Strong bullish signal Put Options (91% overall, above price 163.61 USD)
- Bullish signal Call Options (42% believe above 157.50 USD)
(all data is analyzed with the expiration day 3.3.23)
CRM Setting Up for Earnings Next WeekCRM reports earnings next week. This was a pre-earnings run that settled into an unstable sideways trend and then went down due to a lack of strong retail buying.
Volume is exceedingly low to the downside. This is not a sell short setup. Buy zone support is too close from the bottom formation.
NVDA had a similar pattern and gapped up on its earnings release news.
Salesforce continues to ride on bullish momentum.Salesforce - 30d expiry - We look to Buy a break of 167.51 (stop at 158.51)
Short term momentum is bullish.
There is no clear indication that the upward move is coming to an end.
A break of the recent high at 167.24 should result in a further move higher.
The previous swing high is located at 166.03.
A clear break of 167.24 and we would look for further gains to 190.00.
Our profit targets will be 189.89 and 194.89
Resistance: 167.24 / 172.50 / 177.00
Support: 163.00 / 160.00 / 155.00
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Salesforce CRM should recover to its 200SMA$CRM published not bad numbers in the last ES but the outlook looks not so optimistic. The stock sold off and now it`s recovering from the bottom on the general sentiment and news that the company announced a cost optimisation program. Look to buy with 200SMA as initial target and stop loss around 8-9% lower. There will be a time stop loss - if it doesn`t move the trade gets killed.
$CRM: Bullish signal$CRM is another stock that flashed a buy signal after an extended decline, interesting one here.
Best of luck!
Cheers,
Ivan Labrie.
Salesfoce was meant to rebound even before Elliot took a stake1. Salesforce is set to soar after Elliot Management took a stake.
2. Even before that, the stock was already forming a falling wedge pattern on the daily chart.
3. Salesforce RSI was also forming a bullish divergence pattern.
CRM - BEARISH SCENARIOAfter a half-decade of fast hiring and large acquisitions, Salesforce is trying to cut costs and better integrate the companies it has purchased.
The 8 000 jobs cut announced on Wednesday is a step forward, but it won`t be enough to stop the downtrend.
The expectations are for the downtrend to continue and to reach the $ 115 major support level
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CRM Salesforce - Weekly Chart ConcernHello friends, today you can review the technical analysis idea on a 1W linear scale chart for Salesforce, Inc (CRM).
The CRM price chart is self-explanatory. I posted about this stock in December 2021 and since that point, the price is down about 54%. It's not out of the water just yet as price has a possibility to head lower. There is a strong trend line where price may bounce from with historical support but that would mean price needs to come down another 29%. There is also a weekly Death Cross (50D and 200D SMA cross) that occurred recently, which may cause price to head lower. I have also included the Volume and RSI in this chart.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #millionaireeconomics
CRM Salesforce.com: Bigger Drop ComingHello friends, today I am completing a technical analysis on the 1M linear scale chart for Salesforce.com ( CRM ), traded on the NYSE.
#CryptoPickk notes the following:
1) Salesforce.com price has been falling month over month, down about 20% from it's all time high price.
2) The price has been supported by a multi-year arc line (in red color). In the past year, the price was supported by a rising trendline (in yellow color), however it broke that support and has potential to fall further.
3) Historically the price has had very large swings as shown in the chart.
4) Based on a Fibonacci Retracement, the price has the potential to touch the 0.236 level around $160-$165, which is also where the price can touch the multi-year arc line. This would be about a 48% drop from the all time high price.
5) There is also a multi-year Bearish Divergence which formed that is also a major reason why a further price drop may be coming. You can see the price has formed HIGH HIGH and RSI and Stoch RSI has formed LOWER HIGH.
6) Keep an eye on the RSI (relative strength index) as it has touched the 49-50 level historically before seeing a bounce. This may be a place to potentially start dollar cost averaging in.
7) This isn't the first time the price has potential to see a sizable drop as it has shown historically that it drops and then recovers.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
We Bull!The Dow has to make a new ATH and to do it these stocks have to join the party.
Unemployment rate climbs as DOW makes ATH, then rate cuts will cut the DOW in half over next year.
CRM UPDATE CRM is complete a big contracting reverse triangle , wave C is a zigzag , and wave c of this zigzag is a terminal
at this levels i prefer to be a buyer for long time
Selling CRM at swing highs.Salesforce - 30d expiry - We look to Sell at 164.77 (stop at 172.51)
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
166.59 has been pivotal.
166 continues to hold back the bulls.
Preferred trade is to sell into rallies.
The primary trend remains bearish.
Our profit targets will be 145.55 and 140.55
Resistance: 153.40 / 158.00 / 165.00
Support: 148.35 / 145.00 / 137.00
Disclaimer – Saxo Bank Group.
Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis , as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
CRM - BEARISH SCENARIOSalesforce, Inc. is a San Francisco, California-based software company with a $150.2 billion market capitalization. The company delivered a -40.86% return since the beginning of the year, while its 12-month returns are down by -44.84%.
Despite the announcement that the company will execute its first-ever share buyback program and the plans to lift the prices that it charges for the Slack team communications app that it acquired last year the stock remain under pressure.
The next stop is located at the $ 110 support level
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Up and up with Salesforce.End of flat, Exit C pre confirmed. Ready to bet on a rise.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
This joy will not last long..!Althogh NASDAQ100 is up more than 5% this week, it is still down 23% YTD..! and 25% down from its all-time high..!
But detecting these symmetrical mirror view move helped me and my follower to capitalize on them nicely..!
Some examples: (I did not publish any of these posts publicly)
QQQ: Sep 5th,
TSLA: Sep 6th
SOXL: Sep 6th
NVDA: Sep 7th
#BABA: Sep 7th
DOCU: Sep 8th
CRM: Sep 8th
BP: Sep 8th
They moved between 3-16% in 4 days or less! Recommended Call Option for DOCU moved more than 108% in less than 24 hrs!
Best,
SALESFORCE - BEARISHS CENARIOSalesforce's second-quarter results topped Wall Street expectations, but the downtrend is more likely to continue due to the worsening of the business outlook.
inflation and slowing U.S. growth are some of the main reasons for the company cut its revenue forecast
The next price target is located at the $ 150 support level.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
CRM Salesforce Options Ahead Of EarningsLooking at the CRM Salesforce options chain, i would buy the $175 strike price Puts with
2022-8-26 expiration date for about
$5.25 premium.
Looking forward to read your opinion about it.
Salesforce – Is it to Fall Even Further?Fundamental Indicators:
Sector – Technology
US Business Cycle Stage – late cycle, when this sector is not favourable
Revenue – consistent growth for the past 10 years, 26% annual growth 5-year average
Profits – significant drop from 2021
Net margin – quite low with 3.59% for tech company
P/E – extremely high at 188 compared to S&P500 with 21 and Technology sector 27
Liabilities - debt ratio is at 0.37 which is within normal limits, Net Debt/ EBITDA is negative – no problems with debt
Conclusion – great financial performance for the past 10 years but given the extremely high PE ratio and the current global economic situation it is grossly overpriced, so it is very likely to continue correcting
Technical Analysis (Elliott Waves):
Main scenario of this idea suggests that we are still observing development of the global growth cycle which is currently at the stage of completing the first leg of corrective wave 4 (see higher timeframe graph)
Since the correction of March 2020, the stock price considerably updated historic highs but slightly choppy with a challenging EW count, in this case an Ending Diagonal has been chosen as wave 5 (see guidelines for Ending Diagonals below)
From the high of October 2021 there has been a sharp fall in a clear impulsive move of wave A, followed by a sideway correction in wave B
The next move in wave C is expected to reach $115-$122 and this will finalise the first leg of the global corrective wave 4
This is a higher timeframe to reflect the full history of Salesforce and to provide full wave count:
This is the link to the guidelines for Ending Diagonals
What do you think about Salesforce and its short term prospects?
Also let me know if you would like to see other stocks, indices, Forex or Crypto analysed using Elliott Waves.
Thanks
