1CRM trade ideas
$CRM Long Trade ideaCRM is a stock with great fundamentals and I honestly believe every company would eventually move to a automated customer relations management system. The stock has been beaten down since last month with no changes in fundamentals and I think it might be time for a reversal after the 20% drop.
Trade Idea:
01/21 260C on break of 253 in a 30 mins chart
Target: 257,264,267,271
Stop: 249
Crm lost 250 support Headed back to trendline around 235. 250 was significant support, and new target should be around 235... I've said it before and I'll say it again, the bubble has popped on tech. How can a blue chip stock like CRM lose 25% in 1month with no end in sight? i think the final target will be 200$. if you step back you'll see a H&S on my chart. I'll give you a hint, 250 is the neck line😉
CRM dailyEverything is on the chart.
We tend to see a bounce when it comes to the 20 monthly MA for CRM. It is currently at 238, its also a demand zone. If we don't bounce this week, watch for that area for a potential long term buy.
Chart that goes with the December DD that include CRM !
Expecting Salesforce Price Rejections Below $240Expecting to see price rejections around 234 level as sell off continues on Salesforce. With the daily rejection on last week trading day, this might be a reversal signal...
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
Rising Narrowing Wedge(s)CRM has fallen quite a ways from the latest narrowing rising wedge. Price can fall to a support level within the wedge, but then there is another rising wedge in the yearly chart and the bottom trendline may have been barely broken, but is questionable (orange question mark is on the candle that may be considered a break of the bottom trendline). Rising wedges are a long term pattern and not valid until the bottom trendline is broken. They are considered bearish. CRM broke upward from the first rising wedge in this chart and did a good job on trying to break upward from the second rising wedge (yellow arrow).
This can be a long slow process and the market is not friendly as of late. When price breaks on support level, I focus on the next one and set alerts a long the way.
Oversold on daily RSI, not on weekly and not even close to oversold status on monthly.
No recommendation.
Short interest is very low which is a positive thing in my opinion. Negative volume is dipping down a bit which could indicate waning interest.
The Negative Volume Index (NVI) is a cumulative indicator, developed by Paul Dysart in the 1930s, that uses the change in volume to decide when the smart money is active. The NVI assumes that smart money will produce moves in price that require less volume than the rest of the investment crowd.
NVI rises on days of positive price change on lower volume, NVI falls on days of negative price change on lower volume, and NVI is unchanged on days of higher volume no matter what the price action.
On-balance volume (OBV) is a momentum indicator that measures positive and negative volume flow. The theory being that when volume increases or decreases dramatically, without significant change in an issue's price, at some point the price "springs" upward or downward.
$CRM - Day Trading the Overhead Volume GapWhile $CRM was in freefall we left a small volume gap overhead.
Given that we break the upper trendline around 262-263, we should make a quick trip up to 266 as we fill the gap above, allowing us to capture an easy 1.5% move.
Options will be extremely cheap tomorrow since it's Friday, making this the perfect day trade candidate.
$CRM - Good earnings yet slammed 10% to 200EMACRM had a good earnings report. Basically in line for revenue and positive surprise EPS. Yet the market still hammered it. Be weary of ERs going forward. You must have a homerun to gain in this market.
CRM post earnings Its gapping down below supporting trendline (Yellowline) after earnings.. I think the obivious first target would be the gap close at 260 (Green line) which is high likely to happen tomorrow.
After that we may see a dead cat bounce and then a final move lower to 250 where there is as you can see heavy price action that will act as strong support. 200sma (Gold line) is also in that area too
Salesforce.com Dips into Oversold Territory Before EarningsSalesforce.com is showing some potentially interesting patterns ahead of quarterly results tomorrow afternoon.
Notice how CRM’s decline in the last week brought the Dow Jones Industrial Average member under its 50-day simple moving average (SMA) for the first time since August.
Next, prices have revisited the $284.50 area where they peaked in August 2020 and September 2021. Will traders look for old resistance to become new support?
Third, the pullback dragged stochastics into an oversold condition.
Overall, earnings are always a period of uncertainty. But in this case, the pullback to some important levels may have offset some of the risk. That could be especially true considering CRM’s strong results on August 25 and increased revenue guidance on September 23.
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CRM Ready to Crash?CRM looks to have lost its bullish momentum. My guess is that it'll consolidate near the $312 resistance before ultimately falling to AT LEAST $287. My bold prediction is that it'll fall to $267 by Dec 10 and use the top of the gap as a support for a bounce but...Only Time Will Tell
Let's all buy a metric shit ton of $CRM and get rich.This is a chart of $CRM. The bars pattern is of $FTNT. You can do this with $ADBE and a number of other tech stocks as well. You'll probably notice $ADBE is leading, I'm betting $CRM will follow. Both will catch up to $FTNT.
The structure is ready, we've been drawing this bull flag forever. We've lost all hope in stocks. Biden flushed everyone out that is scared of a little tax bump but only poors worry about taxes... they sold the bottom. It's time.
CRM Bearish DivergenceBeen expecting CRM to fall for a week or so yet the price continued to slowly rise, but it seems as though the time has come. CRM has created a bearish divergence at an all time high and it may get ugly. CRM created a six dollar gap on this previous uptrend - look for CRM to fill that gap.
Aggressive Entry: $294.84 (look for rejection on a retest)
Conservative Entry: $289.32
Price Target One: $278.27
Price Target Two: $260.61
CRM Channel trade🐻Looking for a rejection off of resistance or 300$ today. Trendline support is at 296 , after that there's split channel support at 287 which is target 1.
Target 1 will be a tough area to short through as you can see the amount off touches and the 21ema is also in that area so look for a bounce there for a fall through to target 2
CRM in uptrend regression channelLooks like CRM could be in a uptrend regression channel.
If this is true, a possible price target might be 0.618 Fibonacci which is ~324$ or ~+10%
Stop loss: 269$ or -8.5%
==> risk/reward ratio a little bit better than 1:1 is not very tempting - so I don't recommend to enter the trade now.
If you're long already you might want to hold for more profit.
This is not financial advice.
CRM POTENTIAL 5 POINT MOVECRM is showing a potential break on the Daily Chart for a short 5 point move to 300.
The 1hr is already showing an entry with initial room to 295 first and if price breaks 295, it has room to 299-300.
Stop loss 289.50.
I like the consolidation back to the 21Ma on the daily chart and the weekly chart isn't bad either.
