CRM trade ideas
CRM to bounce off from supportI identified an opportunity in the slowly falling channel. The candle is currently located near support, and has a high chance to bounce. The market started off pretty good as bull dominates the market. I entered into the position to test the idea. The RSI is a bit higher compare to previous candle located at support. #realtrade
Descending triangle, bearishDescending triangle, bearish, could break down in a couple of days.
Thoughts?
Option Traders bet big on Salesforce.The cloud stocks have all fallen out of favour as a result of what is considered high valuations, there has been a obvious rotation inot value rather than growth, CRM has been hit like all others. Despite this todays action in the options markets are extremely bullish with enormous call options traded with a $170 strike price.
Technically the chart is hitting heavy resistance, with convergence of Fib and downtrend resistance.
Indicators are bullish but a high volume trading session is needed to break the aforementioned resistance level.
Good R/R trade entry level $157.50 Target price $170
Average price target $187 Very achievable by year end, if the cloud stocks get their mojo back.
P/e ratio 128 - Very high but historically it has been forgiven
Company profile
Salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform. The firm also provides guidance, support, training, and advisory services. The company was founded by Marc Russell Benioff, Parker Harris, David Moellenhoff, and Frank Dominguez in February 1999 and is headquartered in San Francisco, CA.
CRM: Short Term Buy9/20/19
- CRM repeatedly unable to break ATH of $165
- Supported with long base and Elliot Wave above 0%
- Recently bottomed out in up channel toward $163
- Trend on daily remains strong, supporting upward price movement
Salesforce - CRM bullish long term I’ve built positions in the green boxes, will add upon breakout and will take partial profit at $200 / share.
Salesforce failed swingLooks like a failed swing pattern for Salesforce. Placed my stop sell order, waiting for the dip to occur.
Potential for a $20 channelLong-term ascending triangle pattern formed. Fundamentally strong after recent quarter. Longer term, definitely a buy. Shorter term, I'd be looking to trade an upswing with an entry at $150, stop at $140, pull off half at $160 for the $10 channel, and pull out the rest at $167-170 for the $17-20 channel.
$CRM SALESFORCE BULLISH INTO EARNINGS.======NEAR-TERM TARGET $165=====.
BREAKOUT LEVEL $168
BREAKOUT PRICE TARGET $185
Salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform. The firm also provides guidance, support, training, and advisory services. The company was founded by Marc Russell Benioff, Parker Harris, David Moellenhoff, and Frank Dominguez in February 1999 and is headquartered in San Francisco, CA.
CRM buy setup CRM price going with stong support line. Possibly buy. wait for 123 pattern for entry. I also watching this one .
Bargain hunters will pick up Salesforce quickly.In the course of the last week, software, hardware and cloud stocks have taken a considerable hit, selling off at a much higher level to the market. Salesforce has now dropped 15% in 1 week, which may be very appealing to those who had previously missed out.
It does carry a lofty P/E ratio of 98 but is still on a very aggressive growth path, when the market turns CRM will just keep going higher.
AVERAGE ANALYSTS PRICE TARGET $183
AVERAGE ANALYSTS RECOMMENDATION buy
P/E RATIO 98
SHORT INTEREST 3%
COMPANY PROFILE
salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform. The firm also provides guidance, support, training, and advisory services. The company was founded by Marc Russell Benioff, Parker Harris, David Moellenhoff, and Frank Dominguez in February 1999 and is headquartered in San Francisco, CA.
$CRM SHORT TARGETING 138 IF BOUNCE 152 WILL BE GOOD ENTRYCRM fell hardly from resistances level at 165 now targeting 138 or at least the previous bottom at 142 . its possible to bounce to cover position up to 150-152 then fall again to break bottom 142 .. 138-130 considered as main support for long positions
$CRM SHORT Targeting support above 152 MFI index showing overbought status and could turn down sharply as happened before many times .. in larger scale we are on the second shoulder and below resistance of 162
154 is good support if broken then 152-151 if break down recent bottom at 142 then 125 is the target . For uptrend 162 -168 is most strong resistance .. earning is in august
Longest wave 4 evar...Clear triple three here.... There's a chance wave C of the last triangle isn't done yet but this looks primed for a long overdue breakout assuming the Fed doesn't crap the bed this week.
PT is about 178 which is the length of wave 1 from Y and also the PRZ of the butterfly shown.
CRM 13 RRR longTrading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based Fibonacci retracement triangle is drawn starting from the earliest trend touch point and ending at the earliest touch point of the opposite trend line .
4. Based on the degree, of the earlier defined angle, the appropriate (and secret) levels are selected for the fibonacci retracement ; two levels for stop-loss and two levels for take-profit. The closest stop-loss level to the current price level is the top priority stop-loss. Though the secondary stop-loss level is often chosen for some markets such as FX and some equities in order to account for seldom unexpected resistance breaks. The greater target level is the top priority, and where majority of the shares are sold, though some may choose to close part of the position at the first target level or set it to be the stop-loss once price exceeds it. Entries should be laddered in around the levels closest of the yellow line.
This trading strategy can be applied to any market and time frame, and positions most often garner the greatest risk-to-reward ratio with the highest success rate. What more can you ask for? I will only be posting my unique trading strategy until EOY. I work solely with price action to identify pennants and apply unique trend-based fibonacci retracement levels for SL and TP levels. Reach out to me if you have any questions.
