Bottoming Patterns with Rising LowsThis bottoming pattern shows retests of the lows and how, over time, the lows of the retests start to rise. This tends to be a footprint of Dark Pools quietly accumulating over time.
CRM has recently added Artificial Intelligence to its software to promote and sell more of its customer management software solutions to mid-sized businesses.
CRM
CRM: Its not all doom and gloom!!Saleforce
Short Term - We look to Buy at 168.45 (stop at 151.44)
They reported earnings with forecasted earnings rising despite strong dollar headwinds. This led to a jump in premarket and could provide impetus for further rise up. There is scope for mild selling at the opening but loses should be limited. Our outlook is bullish. Dip buying offers good risk/reward.
Our profit targets will be 222.00 and 240.00
Resistance: 185.75 / 224.00 / 260.00
Support: 168.00 / 140.00 / 115.00
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SalesForce (NYSE: $CRM) Wicks Under The 0.786 Fibs! 🕯️Salesforce, Inc. provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale. Its service offerings also comprise flexible platform that enables companies of various sizes, locations, and industries to build business apps to bring them closer to their customers with drag-and-drop tools; online learning platform that allows anyone to learn in-demand Salesforce skills; and Slack, a system of engagement. In addition, the company's service offerings include Marketing offering that enables companies to plan, personalize, and optimize one-to-one customer marketing journeys; and Commerce offering, which empowers brands to unify the customer experience across mobile, web, social, and store commerce points. Further, its service offerings comprise Tableau, an end-to-end analytics solution serving various enterprise use cases; and MuleSoft, an integration offering that allows its customers to unlock data across their enterprise. The company provides its service offering for customers in financial services, healthcare and life sciences, manufacturing, and other industries. It also offers professional services; and in-person and online courses to certify its customers and partners on architecting, administering, deploying, and developing its service offerings. The company provides its services through direct sales; and consulting firms, systems integrators, and other partners. Salesforce, Inc. was incorporated in 1999 and is headquartered in San Francisco, California.
Salesforce Inc - Chance for Short Term Pump Before Correction?Salesforce is undoubtedly one of the leaders in the ERP industry and with growing digitalisation of economies the growth is going to continue.
The question is - can the upcoming earnings report convince investors for another bull run to update the current high of £311?
Fundamentally: the company is rapidly growing in revenue but the profits are not quite there yet and it's outrageously overpriced with P/E at 115x.
Technically: looking at the weekly timeframe we can clearly see the impulse structure and the last correction indicates the formation of Extended Flat with 3-3-5 wave sequence. If this is the case then there is a chance for another bull run to a potential target of £311.
Risks - as mentioned earlier P/E is too high at this uncertain time with recession talks on all media channels so it is a risk that the next earnings report may spook the investors and correction will go even deeper.
I am keen to know what your position is on Salesforce .
Please share your thoughts in the comments and like this idea if you would like to see more stocks analysed using Elliott Waves.
Thanks
CRM IdeaLooking for these to break 3bottom or 3 tops.
It is sitting on a support area right now
and I think there’s a lot of buyers sitting in 205-208 area. But if market is weak we will see this dump to 200 area.
If market is ready for a rally once again after taking a breather, we could potentially see this break the resistance over 221 and create demand there for investors who missed the boat.
What's your idea?
SALESFORCE - Monthly Demand ContactedNYSE:CRM
CRM has contacted Monthly Demand and is in line with the Monthly Demand that the S&P 500 has contacted.
There are several stocks that are currently aligned with the Monthly Demand of the S&P 500 ** See my profile for more stock scenarios**
CRM has the potential to rocket with institution demand coming into play. This trade has the potential to reach new highs in the long term.
As we reach PEAK FEAR in the markets, we are liking to have reached a bottom on the S&P 500
$CRM clear bottom: ATH incoming Hi all,
After the correction and retracement of the last weeks, i notice a nice bottom developing where:
- 200 SMA on the weekly chart tested
- bottom of historically trendline
- oversold conditions on indicators as DRSI
- fibonacci on 0.
ofcourse nobody can predict the future, but with that said, i see a potential all time high on the horizon.
NOW failed to break neckline on head & shoulders= DEATH CROSS!!!Death cross officially printed last week, along with the Nasdaq. This is a SELL signal! Next stop $480. The PE has come all the way down to 491 lol. As multiples continue to compress on these high flyers this stock has a long road to go with many bounces and failed attempts to rally. Without help of the fed's perpetual 14 years of QE and artificially low interest rates these companies will have to learn to live within a budget without benefit endless free cash in this mother of all bubbles stock market casino!
SNOW poised to meltAnother money losing covid era IPO with failed double top. This company reports "earnings" on March 2. The last 3 annual reports have posted larger losses than the prior year. The era of fed induced stimulus and QE with bubblelicios low interest rates is over. This stock looks to be printing a death cross in the coming days same as NOW and CRM. Look out below!!
Potential Falling Wedge on CRMBulls tried to reclaim the 200 EMA, but were strongly rejected. Salesforce is down 11% in two days. We're entering my "Buy Zone" (where it's on my radar, but I need a confirmation, like divergence, before I'm ready to take a position). I'm expecting a Falling Wedge to form, and will likely wait for it to play out further. It's too risky for me at these levels, but more aggressive traders may have an opportunity to scalp some short-term profit before we head down further.
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These are my personal views and not financial advice. Please do your own research before investing.
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$CRM: Short term bottomCalling a short-term bottom on CRM here. This is not a bloated tech stock, it's valued over time. They are currently at a P/S ratio of 8 and I think the stock might have put a temporary bottom. All in all, the stock would still go through the market correction cycle in the long term. In the short term, I expect it to close at least GAP 1. Also, notice the stock has extended below the lower Bollinger bands and oversold on all time frames.
Entry: $227 - $230 (I got 03/18 230 calls)
Targets: 247,260,291
Stop Loss: 220 (The stock still has a gap at 221)
$CRM Long Trade ideaCRM is a stock with great fundamentals and I honestly believe every company would eventually move to a automated customer relations management system. The stock has been beaten down since last month with no changes in fundamentals and I think it might be time for a reversal after the 20% drop.
Trade Idea:
01/21 260C on break of 253 in a 30 mins chart
Target: 257,264,267,271
Stop: 249