CRM trade ideas
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.
AB = CDCRM broke up from a rising narrowing wedge...
Quite an acheivement as stocks do not break up from a rising wedge often, but it is possible...
Bearish until bottom is found..targets listed for possible journey down but may stop falling at any time. D would be the usual fall but the fib levels can take it lower..
Just an observation
$CRM - GAP FILL$CRM - GAP FILL AFTER INVESTORS DAY AH, EXPECTING A STRONG MOVE ABOVE 230 TO 250 AREA
CRM - accumulateCRM is now 20% off it's August's high after it gapped down upon announcing it is buying Slack. As a buyer, it drags down the stock in the near term but for the longer term, I believe the synergy is good.
Technically, the stock has found support @ 216 (Gap fill) and has quickly rebounded to close right at the 38% fib retracement level @ ~ 220. There is now a confluence of gap fill, 38% fib retracment support and bullish divergence between price and stochastic. Hence I believe the odds of CRM going any lower than 216 is slim.
Looking to accumulate between 220-225 with initial stop just below the recent low at 216. Mid term target of 263-270. I do not expect the stock to roar back to life so quickly however. Will need some patience. :)
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
CRM Trend ReversalCRM recent news leaves them a great buy going into next year; Bought the ER dip; Has room for a gap fill up to 236, PT1 240
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 long ideaCRM has been selling off on the news of the acquisition of SLACK and as a result, the stock has managed to fill the pre-earnings gap. Currently, CRM is trading at the lower range of the 4 HR channel and is also forming a massive flag on a longer timeframe looking ready to reverse and return back to the upper channel. I'm looking for a break above 230 for long swings with stops below the 222 and targets 238, 247, 254. The above ideas are my own and should not be treated as investment advice of any kind. Please do your own DD before investing.
CRMInfo only, not advice
Recovering from the news of them purchasing Slack Tech.
Still very strong and plenty of potential upside
CRM 12/6- Completed WXY correction at .382 fib
- approached oversold on daily RSI, now curling up
- selling climax suggesting selling is over
- stochrsi buy signal
- perfect bounce off of .618 fib fan
CRMI'm not one to take bearish positions in a bull market, but CRM is a decent opportunity to the short side
