Salesforce $CRM "cup w handle"$CRM has just cleared $184.80 handle buy point yesterday. RSI broke the trendline too and the volume was more than average.
12 months Consensus Price Target: $198.50
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Long cloud Play CRMAs long as this does not break the channel and spy stays above 300 i am going long with 180 calls Or spreads...we are heading to test the 618 in the next 30 days. Waiting to Load up on June 26 180/185 bull spreads. Opposite this if channel breaks. Cloud plays getting attention on Cramer and CNBC.
CRM Bullish (ER Run Up)Symmetrical Triangle + Bullish Channel (Time Frame Confluence) + Momentum
I'm expecting CRM to continue in the bullish channel up to a price target of 189.98 (Supply Zone) before seeing a big pullback. No loss of bullish momentum yet but will wait for a break above 180 before entering Long.
Bullish above cloudsThe stock has just broken above the upper boundary of a rising wedge pattern and the 61.8% retracement level between Feb 2020 high (Point A) and Mar 2020 low (Point B) with a bullish candle. The Lightning cloud has crossed above the Thunder cloud and is heading upwards with narrow shape, indicating that the short-term upward momentum is getting stronger. On the other hand, the future Thunder cloud has already twisted to bullish (with yellow color now).
The daily RSI stands firmly above its neutrality level at 50% and is heading upwards. The MACD is above its signal line and 0-level, while the MACD histogram is broadening.
In these perspectives, we are positive with stock and expect it to go further upside towards $178.50 in coming sessions.