CRM Long Bullish Divergence & 200 EMA SupportI think the title explains it well enough. Seems like reasonable support with some bullish divergence on the RSI.
Happy trading!
Salesforce
$CRM doing not much, I think it is waiting for next earningComing earning will show good or bad side of Slack deal.
Salesforce - more weakness ahead?NYSE:CRM is another vulnerable short opportunity with promising entry right now. Expensive stock with market cap above $200 bln, P/E > 100 and P/S >10, which topped exactly after being added to Dow Jones in late August and trending down since then on poor relative strength.
Salesforce looks strongCRM has consolidated for almost 3 weeks, after gapping down on the news it had acquired Slack (WORK).
Risk reward ratio is around 3.
A potential test of the pre-gap candle lows might be in place before attempting to reach the 50sma, and subsequently the top of the gap.
OBV line has tested and is now respecting the line that was made before the gap higher.
CRM Salesforce. Long the supportWhy so bearish on the slack acquistion? I see this as a huge sell the news and sell the "oh they could have built their own, or bought someone cheaper". Sure they could have but they didnt. So time to move on and explore what they are going to build with Slack now.
Buy support. sell Resistance. Why stress about anything else?
CRM Buy Opportunity, BREAK OUT TOMORROWPossible buy opportunity as Salesforce is in oversold territory and bouncing off an important support trendline, meanwhile breaking a resistance trendline.
$CRM - Calls Above ~ 229.6 Salesforce took a pretty big hit after announcing the WORK (slack) buyout. It's clear the price has stabilized and is looking to climb again. My favourite ETF, ARKK has also purchased a bunch of CRM at this bargain price. I'm looking to takes calls or buy shares when the price closes above the 229.6 region, which seems to be where the accumulation wall is. I'm targeting to fill just below the gap at around 236.
Long Position on CRM?CRM has shown strong support at $220 in the last few trading days and has shown weakness at the $229 wall.
The $228 support that we found in October has subsequently turned into a resistance point.
The following are the three outcomes for CRM stock in the next 3 months:
1. If it smashes $229 resistance, the stock could rally to $240
2. If support at $220 is broken, next support line is $215
3. If $215 support breaks, the stock is likely to trade between $190-$205.
If you are planning to go Long on CRM, do these things:
1. Watch the stock on Friday and see how it plays out. With the vaccine news out, I see it going lower. What you should do is see if it holds $220 support. If $220 holds, buy 25% of what you intend to buy.
3. If $220 support is broken, wait for a pullback to the $215 line and buy another 25%.
4. If $215 breaks, buy the remaining 50% of what you originally intended to buy at $205-$208.
5. Set your stop loss limit at $190. This is a worst case scenario, but it is better to manage risk to the downside, considering the current market conditions.
$CRM waiting for CRM at 200 level, let's see if it comes there.$CRM waiting for CRM at 200 level, let's see if it comes there.
Salesforce - is it correction time? or is slack to heavy...So CRM bought slack in a fairly expensive price and this caused investors to pull out and run -which is good because the stock needed to retrace and retrace the gap area between 220 -250.
let’s focus on technical :
Stock is moving in a downward trend with no lower highs only lower lows which means we are technically not in a downtrend ! the gap from 25th of August was finally filled and now the stock can keep climbing in a safer manner.
the best part is we are seeing the correction from the drop beginning to correct and it fits our Stoch & ATR but most importantly it fits our POC and volume that indicates price should go back up to 250 (which is where the august gap ended - the wonders of volume never stop :))
So, stock needs to climb up to the 250 and make sure you keep in mind the 270$ line resistance that was tested several times and not broken
To sum up, buy position to the 250$ line then we let it correct down for a day or so and jump back in to the 270$ line
please note this trade is a quick one I assume a rise in Monday morning premarket and once market will open, we will already be halfway there so make sure you are in on time
Happy Xmas and trade safe!
Salesforce bought Slack for $27 billion. What next?I think the Salesforce acquisition of Slack was genius. Why? They now have access to all of Slack's clients and companies. They can integrate all Salesforce products into it and go right after them to upsell them Salesforce products. This is a great attempt by Salesforce to keep growing revenues. However, there is more to this story...
Before we get to the bear case, let's dive into one more interesting thing:
Salesforce is officially going after Microsoft and Microsoft is going after Salesforce. Microsoft bought LinkedIn to essentially build its own CRM system for sales and contacts. They saw what Salesforce was trying to do. Now however, Salesforce is flipping the script. Imagine the following:
Slack docs
Slack spreadsheets
Slack video
You name it
They are now going right after Microsoft Word and Excel. Also, to some degree, Google Business Solutions. That's where the bear case begins, however.
This space is extremely competitive now and it's requiring more and more risk. A $27 billion acquisition? Salesforce could not build their own Slack for $27 billion? Salesforce could not find another cheaper company to acquire? Meanwhile companies like Discord are growing fast and coming for Slack.
It seems that Salesforce's recent weakness, and point of this chart that Salesforce will return to its Volume Profile node, is that some long-term investors and holders are slightly weary of the cash spend and M&A mania that Salesforce has been on.
They keep buying, rather than growing organically.
$CRM - GAP FILL$CRM - GAP FILL AFTER INVESTORS DAY AH, EXPECTING A STRONG MOVE ABOVE 230 TO 250 AREA
SALESFORCE - Oversold and a good entry pointSalesforce is looking oversold to me and is heading straight for a support level that previously was a significant resistance (look at that breakout once buyers broke through). RSI is showing this as oversold.
I am betting on a resistance to support flip and think this is a decent entry with small downside. Bullish on Salesforce as companies continue to rely on their tech setup to maintain, and reckon with a working from home / office blended culture in the post-vaccine near future.
Salesforce recently bought Slack which is an interesting development, they seem to have sights set on conquering the end-to-end "sales conversation" within businesses.
I'm buying this for a mid to long term hold.
CRM Heavily Oversold Bouncing off Reliable SupportsA quick look at what I'm projecting viewing the hourlies. Seems like Saleforce is bouncing off so strong support.
