Multiple BottomsIf I were in this security today, I would place a stop under 201.50 which is the lowest of 4 bottoms, and cross my fingers, tightly, that this congestion zone of support is not broken. That stop is bit further from price than I usually feel comfortable entering a security, especially when Mr. Market has been so volatile as of late, so I will wait just a bit longer. If I miss out, I guess there is always another stock to buy. (o: I do not like buying on UP days anyway.
Earnings 3-1 AMC.
Green lines are major levels of support that I see. You may see different ones than I do.
CRM fell from what appears to be an Ugly top a while back. CRM did not form an ARC on the way up as the chart is not overly steep on weekly or monthly. CRM has now corrected all of the bearish rising wedges that were under price by breaking the bottom trendlines of each one and appears to be trying to recover lost ground. Time will tell.
I do think for the long term, this is a "Long" even though it may pull back again and again, so I clicked Long on the multiple choices of Long, Neutral, and Short.
Yesterday's candle could be an inverted hammer.
The 50 is trying to cross down through the 200 which some call a death cross. Price is below all the major longer term moving averages with several negative crossovers. Moving averages are lagging indicators but I do look at them and these look awful on this chart. Price is under these averages until it no longer is (o:
Some use the ATR (average true range) is based on volatility and some would multiply it by 2 and deduct it from price which is almost the same as a stop under the lowest bottom.
Price fell below the bottom bollinger band in the last few days with the SMA on 80, but has snapped back inside. This is oversold on weekly and daily RSI. CRM is not oversold on monthly RSI.
Chaikin's Money flow is trying to tilt up but is still negative.
The market is volatile and this could just be a rally up, but I have been tracking this one and noted the bottoms. There is a lot of resistance overhead and folks are stuck up there in financial pain who will sell on any rally up.
Short interest is very low. Looking at short interest is one of my rules before I buy anything. It gives me an idea of market sentiment, and frankly, shorties are not always right but most of the time they are.
EPS 4.69 PE 45.37 (on the low side for tech) Mkt cap 208 billion. Revenue is growing quarter over quarter.
No recommendation. If I am wrong on the Long (o; then I am just wrong and all I can do is make an educated guess as to what this may do. I do believe in the long term this would be a good investment if one were to get in at the right level.
