$CRM with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $CRM after a Negative over reaction following its earnings release placing the stock in drift A with an expected accuracy of 60%.
4CRM trade ideas
CRM: Its not all doom and gloom!!Saleforce
Short Term - We look to Buy at 168.45 (stop at 151.44)
They reported earnings with forecasted earnings rising despite strong dollar headwinds. This led to a jump in premarket and could provide impetus for further rise up. There is scope for mild selling at the opening but loses should be limited. Our outlook is bullish. Dip buying offers good risk/reward.
Our profit targets will be 222.00 and 240.00
Resistance: 185.75 / 224.00 / 260.00
Support: 168.00 / 140.00 / 115.00
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SALESFORCE-BULLISH SCENARIOA strong weekly support level crossed by the 0.618 Fibonacci level was reached by Salesforce, providing us a good entry point for a long-term trade
CRM will be reporting its fiscal 2023, first-quarter earnings on Tuesday, May 31 after the market closes. It is forecast to report $7.38 billion in revenue and $0.94 of earnings per share.
So far, the company which sells enterprise software and cloud-based services has never released disappointing financial results.
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SalesForce (NYSE: $CRM) Wicks Under The 0.786 Fibs! 🕯️Salesforce, Inc. provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include Sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and Service that enables companies to deliver trusted and highly personalized customer service and support at scale. Its service offerings also comprise flexible platform that enables companies of various sizes, locations, and industries to build business apps to bring them closer to their customers with drag-and-drop tools; online learning platform that allows anyone to learn in-demand Salesforce skills; and Slack, a system of engagement. In addition, the company's service offerings include Marketing offering that enables companies to plan, personalize, and optimize one-to-one customer marketing journeys; and Commerce offering, which empowers brands to unify the customer experience across mobile, web, social, and store commerce points. Further, its service offerings comprise Tableau, an end-to-end analytics solution serving various enterprise use cases; and MuleSoft, an integration offering that allows its customers to unlock data across their enterprise. The company provides its service offering for customers in financial services, healthcare and life sciences, manufacturing, and other industries. It also offers professional services; and in-person and online courses to certify its customers and partners on architecting, administering, deploying, and developing its service offerings. The company provides its services through direct sales; and consulting firms, systems integrators, and other partners. Salesforce, Inc. was incorporated in 1999 and is headquartered in San Francisco, California.
$CRM a favorite tech play$CRM has strong fundamentals and has currently slightly undercut its bottom trend after overshooting on the previous rally. Along with being at the bottom of its trend at a strong price volume support area I believe this is one of the best secure growth/value plays out there. $CRM has a very sticky customer base and is growing at a rapid rate. While on the surface they look expensive at a 111PE ratio this is an illusion since like Amazon in the early days they reinvest their profits to avoid large tax burdens and to fuel growth. eg. in the last year their net income was only 1.44 billion but spend about 11 billion on sales and marketing. If you look at their profitability before the reinvestment into marketing they are trading near a 15 PE ratio.
From some rough projections I have I think it would be reasonable for them to reach a $100 billion revenue by 2030 and could likely achieve a net margin of 25-30% which could give their a value of at least a $500 billion market cap at around a 17PE.
Head and Shoulders/Bear Flags CRM has fallen past the 100% mark for the head and shoulders top.
Price was hanging on to the support line of another bear flag for a few days. Today is a bloody day in the market and price has broken the support line of the flag. A bear flag can break to the upside or the downside, so until the support line of the bear flag is broken with a down trend, it is not a valid flag. Folks measure targets in different ways, but I measure the pole and project it downward from the top trendline of the flag which would take price to the 1.272 fib level of the H&S pattern.
I looked at this on weekly and it looks like a Cypher or a Shark, M shaped pattern with peak 2 higher than peak 1, so this would be a bullish M when the final leg lands. The retracement leg, or leg 2, lands at the 0.5 which for me, does not rule either of these patterns out. The cypher's 2nd leg must land between the .382 and the .618 and the shark has no rule on the retracement leg except it can not go below 0. The shark is labeled OXABC and the Cypher is labeled XABCD. The Cypher should land close to the .786 of XC and the 2nd peak is labeled C. The Shark should land close to the .886 of OX, or the first leg up known as the impulse wave. In some cases the Shark can land at the 1.113 of OX.
I never feel certain when trying to differentiate these 2 patterns from each other unless the retracement had been at the .236 or deeper than .618, and then I know it is a shark. So I measure for both, and wait for price to land! If you know how to tell if a pattern is a Cypher or a Shark if the retracement is between .382 and .618, please post it below.
I did note that the .786 of the entire structure hits the 1.272 of the head and shoulders pattern and the .886 of the impulse wave if this were a shark, would hit the 1.618 of the H&S pattern, so there is confluence at both of these levels. I do not mean to be confusing but there are 2 patterns, the head and shoulders and a harmonic pattern and I am basically saying the levels below line up with each other. The harmonic pattern is easier to see on weekly.
The 1.113 fib level of the head and shoulders pattern has served as support as of late. If price falls below this level, there could be issues.
Time will tell.
Possible targets 1 down in orange type below price. Targets 2 in smaller type if price goes past targets 1.
Short is around 2 percent which is on the low side.
No recommendation.
Weekly chart
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Salesforce Inc - Chance for Short Term Pump Before Correction?Salesforce is undoubtedly one of the leaders in the ERP industry and with growing digitalisation of economies the growth is going to continue.
The question is - can the upcoming earnings report convince investors for another bull run to update the current high of £311?
Fundamentally: the company is rapidly growing in revenue but the profits are not quite there yet and it's outrageously overpriced with P/E at 115x.
Technically: looking at the weekly timeframe we can clearly see the impulse structure and the last correction indicates the formation of Extended Flat with 3-3-5 wave sequence. If this is the case then there is a chance for another bull run to a potential target of £311.
Risks - as mentioned earlier P/E is too high at this uncertain time with recession talks on all media channels so it is a risk that the next earnings report may spook the investors and correction will go even deeper.
I am keen to know what your position is on Salesforce .
Please share your thoughts in the comments and like this idea if you would like to see more stocks analysed using Elliott Waves.
Thanks
CRM IdeaLooking for these to break 3bottom or 3 tops.
It is sitting on a support area right now
and I think there’s a lot of buyers sitting in 205-208 area. But if market is weak we will see this dump to 200 area.
If market is ready for a rally once again after taking a breather, we could potentially see this break the resistance over 221 and create demand there for investors who missed the boat.
What's your idea?
Holding 50 MA & RSI Bullish Divergence CRM is holding 50 MA and RSI is also showing strong bullish divergence. So we could see CRM above $220.
$CRM good long term buy here $CRM is looking like a pretty tremendous value here and is coming off its bottom trend.
Falling Wedge- Watching CloselyCRM holding quite a big falling wedge here on its daily chart after closing Friday reclaiming the 50-Day SMA. CRM is currently sitting on its 50-Day SMA as well as the .786 FIB level, which also happens to fall right on a major RSI-Based Supply level. CRM additionally has multiple gaps on the upside to fill. Bullish on CRM long-term and will be watching closely for a breakout if buyers continue to step in (broader market conditions permitting)- Just some FIB levels along with some RSI-based supply and demand zones to keep an eye on in the meantime- Price Targets Attached Below
- Buyer volume picking up relative to seller volume
- Reclaimed the 50-Day SMA
- Falling Wedge
- Gap Fill on the Upside circa $238.87-$243.22
PT1- $212.74
PT2- $214.68
PT3- $217.10
PT4- $219.52+
Bold prediction in CRM . CRM bull run ending by bigening of 2024it's a bold prediction on CRM. if we continue bull run on indexes CRM bull is starting 3rd of 5th wave. I'm predicting CRM bull run will end by the beginning of 2024
$CRM with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $CRM after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 90%.
big breakout on the dailyi dont love the starting point of this downtrend but the 2 year chart is pretty ugly
PE still very elevated but a buy on a technical level
CRM - Adam & Eve reversalThis recent rebound in CRM could have momentum for a sustainable swing up with a confluence of the following technical factors:
1. mini Adam & Even bullish pattern locking in the near term bottom
2. Tested a longer term support zone (apparent on weekly chart)
3. Formation of a strong bullish engulfing weekly candle
4. Good RSI strength (>50)
Theoretical swing target of between 240-248 (gap fill). Will we get there?
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Please your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Cheers.
CRM monthlyCRM, good company with positive cash flow growing, leader in the industry.
In a daily demand zone and a retracement + an interesting moving average on monthly.
Potential buy.
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SALESFORCE: In love with channels As you can see, salesforce really has a preference for channels. Breakouts almost always led to a strong upward movement. Here, too, hopefully.
I would be happy to get feedback.
Updates on ideas will follow.
SALESFORCE - Monthly Demand ContactedNYSE:CRM
CRM has contacted Monthly Demand and is in line with the Monthly Demand that the S&P 500 has contacted.
There are several stocks that are currently aligned with the Monthly Demand of the S&P 500 ** See my profile for more stock scenarios**
CRM has the potential to rocket with institution demand coming into play. This trade has the potential to reach new highs in the long term.
As we reach PEAK FEAR in the markets, we are liking to have reached a bottom on the S&P 500
Buy after the earning resultThis stock has fallen more than 40% from its peak but has since recovered quite well in the last 2 trading days. Notice there is a very nice bullish engulfing candle , a possible reversal signal ahead.
I expect the earning results to be better than analysts expectation and the rally continue to close the gap to 243.30.
