FOO trade ideas
Worth HoldingDue to market sentiment and quitting of co-CEO, CRM fell to EMA 200 ($163), which was previously a resistance zone before the speculation of Google acquiring it published by RBC, and immediately rebounded from that level to $170.
It might be worth accumulating when market opens as CRM remains a long term winner given the amount of companies it has, constructing an economic moat for the company. High switching cost of the company would also promise stable revenue growth for it although its revenue growth is not as organic and great as before given the law of large numbers.
CRM— nearing temp end of the climb??After a strong climb since dec31,2019 — after 3 weeks it is now it is near the top of the channel and showing signs of a temporary pullback (possibly.) Might be time to Take off some profits and buy back in, possible—If momemtum trader. Lets see the next days events....
Overall a strong buy rating with 7% upside still to go on big picture views. Strong analyst support given, for buy and hold investors. High price target of $216 by analysts views. Average is $196.40