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SALESFORCE INCSALESFORCE INCSALESFORCE INC

SALESFORCE INC

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Rising Narrowing Wedge(s)CRM has fallen quite a ways from the latest narrowing rising wedge. Price can fall to a support level within the wedge, but then there is another rising wedge in the yearly chart and the bottom trendline may have been barely broken, but is questionable (orange question mark is on the candle that may be considered a break of the bottom trendline). Rising wedges are a long term pattern and not valid until the bottom trendline is broken. They are considered bearish. CRM broke upward from the first rising wedge in this chart and did a good job on trying to break upward from the second rising wedge (yellow arrow). This can be a long slow process and the market is not friendly as of late. When price breaks on support level, I focus on the next one and set alerts a long the way. Oversold on daily RSI, not on weekly and not even close to oversold status on monthly. No recommendation. Short interest is very low which is a positive thing in my opinion. Negative volume is dipping down a bit which could indicate waning interest. The Negative Volume Index (NVI) is a cumulative indicator, developed by Paul Dysart in the 1930s, that uses the change in volume to decide when the smart money is active. The NVI assumes that smart money will produce moves in price that require less volume than the rest of the investment crowd. NVI rises on days of positive price change on lower volume, NVI falls on days of negative price change on lower volume, and NVI is unchanged on days of higher volume no matter what the price action. On-balance volume (OBV) is a momentum indicator that measures positive and negative volume flow. The theory being that when volume increases or decreases dramatically, without significant change in an issue's price, at some point the price "springs" upward or downward.
NYSE:CRM
by lauralea
Salesforce.com Dips into Oversold Territory Before EarningsSalesforce.com is showing some potentially interesting patterns ahead of quarterly results tomorrow afternoon. Notice how CRM’s decline in the last week brought the Dow Jones Industrial Average member under its 50-day simple moving average (SMA) for the first time since August. Next, prices have revisited the $284.50 area where they peaked in August 2020 and September 2021. Will traders look for old resistance to become new support? Third, the pullback dragged stochastics into an oversold condition. Overall, earnings are always a period of uncertainty. But in this case, the pullback to some important levels may have offset some of the risk. That could be especially true considering CRM’s strong results on August 25 and increased revenue guidance on September 23. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NYSE:CRM
by TradeStation
2
Let's all buy a metric shit ton of $CRM and get rich.This is a chart of $CRM. The bars pattern is of $FTNT. You can do this with $ADBE and a number of other tech stocks as well. You'll probably notice $ADBE is leading, I'm betting $CRM will follow. Both will catch up to $FTNT. The structure is ready, we've been drawing this bull flag forever. We've lost all hope in stocks. Biden flushed everyone out that is scared of a little tax bump but only poors worry about taxes... they sold the bottom. It's time.
NYSE:CRMLong
by pobudz