Salesforce below (M)MA50Salesforce moved finally below (M)MA50, this is important move. Couple months it was distributing stocks after fake break above (M)MA50 and finally broke below.
1CRM trade ideas
HEAD & SHOULDERSPrice is testing the neckline. This pattern is not valid until the neckline is broken with a downtrend. It has been broken but there is no clear downtrend.
Earnings are 11-29/estimated/AMC.
Short interest is low and is less than 1%.
No recommendation.
CRM Entry, Volume, Target, Stop, Resistance
Entry: with price above 238.22
Volume: with volume greater than 26M
Target: 370.74 area (this is an area, no guarantee it reaches this price, but you should be selling on the way up)
Stop: Depending on your risk tolerance; Based on an entry of 238.23, 217.91 gets you 2/1 Reward to Risk Ratio.
Resistance: 251 area
This LONG swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
$CRM Cup with Handle SetupLiquid stock in enterprise software setting a nice cup with handle pattern.
Very look risk entry right here. Focus list for me tomorrow.
Symmetrical TriangleTop line slopes down and the bottom line slopes up.
Green Doji noted a several weeks back at resistance.
Neutral pattern until broken.
Prior RSI Divergence that has most likely corrected.
No recommendation
Salesforce Developing Head and ShouldersSalesforce Daily
Price Action
CRM is currently attempting a reversal from its uptrend that started back in December / January. The head and shoulders that is developing is rather obvious, however it should noted that the left shoulder had much higher volume than the head; showing lack of buyers willing to participate. The right shoulder does have rather high volume so far, but we believe the gap that was created will be filled immediately and price action will move to the neckline (Red / Teal Solid).
Relative Strength Indicator
As shown, there is a clear divergence (Aqua Solid) that was extended into a trend line (Yellow Solid) which is an area to look for a break though for invalidation. RSI has moved back over the 50 level, but is currently approaching it's line of resistance.
On Balance Volume
Similar to the RSI, OBV has also created a divergence and is also now approaching a level of resistance (Red Solid). Breaking the level would signal an invalidation, however in conjunction with the prior stated analysis, we believe it will become a triple top.
TLDR;
No pittering or pattering, just get to it. I like it, thats how we operate here. A clear head and shoulders pattern is forming with divergences on the RSI and OBV. Both indicators are re-approaching a levels of resistance while price action is attempting to make a lower high from the head. We believe price action makes a turn around, fills the gap, and moves lower to test the neckline; look for heavy selling volume to confirm the break and wait for the retest. Target areas of support are shown if the head and shoulders plays out
What Seems Legit?
Well if you got yer gamblin' purse and got the itch, sell in September no regerts in November. "Bro you missed the hidden continuation divergence!!!", we chose not to label that because the price action stayed flat and didn't actually move higher; which is what you normally see. If you do have your gamblin' purse but your down to your last roll of quarters, wait for the neckline to snap then get your feet wet on the retest.
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Chart Key
Yellow Solid = Trend Line
Red Solid = Resistance / Support
Red / Teal Solid = Neckline
Aqua Solid = Divergences
White Dotted = H&S Invalidation Area
Green Boxes = Supports / Target Areas
CRM looks Promising for BullsCurrent Price of CRM has cleared the 211 resistance area decisively. It's important Bulls to take charge and hold the the price above $219 for its next leg.
Targets for Long above $219 are $ 225, $232, $241,$256,
Stock favors Shorts if price stays below $219 and likely targets would be $211,$209 $204, $200,$197, $189
keep in mind September is the volatile month and CRM moves quickly. Position sizing and stop losses need to be respected.
CRM Salesforce Options Ahead of EarningsIf you haven`t sold CRM here:
or reentered here:
Then analyzing the options chain and the chart patterns of CRM Salesforce prior to the earnings report this week,
I would consider purchasing the 210usd strike price Puts with
an expiration date of 2023-9-15,
for a premium of approximately $8.75.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
CRM Entry, Volume, Target, StopEntry: with price above 238.22
Volume: with volume greater than 8.5M
Target: 520.29 area (this is an area, no guarantee it reaches this price, but you should be selling on the way up)
Stop: Depending on your risk tolerance; Based on an entry of 238.23, 230.82 gets you 2/1 Reward to Risk Ratio.
This LONG swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
$CRMPotential short?
Weekly candles, so give it time to play out. Still have another 2 days left in this current weekly candle, so this is essentially a front run move, but that's why we have stop losses.
If macro markets drop this will obviously follow.
Key fib level at 0.886.
CRM Entry, Volume, Target, StopEntry: when price clears 225.00
Volume: with daily volume greater than 19.63M
Target: 239 area
Stop: Depending on your risk tolerance; 220.35 gets you 3/1 Risk/Reward.
This swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
CRM - BULLISH RALLYSalesforce stock (CRM) has seen a surge due to a truce with activist investor Elliott Management, the introduction of new AI services, and price increases on key products. The stock gained 5% in July, outperforming the market. CEO Marc Benioff's net worth has risen by $2.5 billion. Salesforce raised prices by an average of 9%, driving positive reactions from analysts. The company's AI Cloud product and upcoming AI tools have also generated excitement. Improved expense control and expectations of higher profit margins contribute to the positive outlook, despite economic uncertainties.
It is fair to say previous highs are near posibility.
Salesforce broke free from a triangle.Salesforce - 30d expiry - We look to Buy at 216.11 (stop at 206.11)
The primary trend remains bullish.
Broken out of the triangle formation to the upside.
Previous resistance at 216 now becomes support.
We look to buy dips.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
This stock has seen good sales growth.
Our profit targets will be 240.11 and 245.11
Resistance: 225.00 / 230.00 / 235.00
Support: 216.00 / 213.00 / 208.50
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CRM put put spread
Macro: Strong SnP and NQ, CRM product price increase
TA: break of small range
entry: break of tight range
TP : at the next swing high or option expire
stop: carry til expiry or roll, if 90% value or reminder value/day<2
CRM breaking out of pennant, or wave C correction?Salesforce ( NYSE:CRM ) is making an impressive pre-market move, poised to kick off the day with a breakout from its pennant formation. By taking into account a measured move from the previous consolidation phase, coupled with a measured move from the onset of the formation, we can project a potential target range of $233-238. Interestingly, this aligns with the consensus 12-month price targets.
We're looking for this to invalidate the possibility that we've just wrapped up a wave B and are now embarking on a wave C correction. If the breakout fails and we enter a wave C hypothesis the long-term target remains intact. Consequently, I've planned two a entry approach: an immediate entry and a subsequent one at the $200 mark for further accumulation.
It's worth noting that both these levels have strong volume support. This dual-entry strategy provides a balanced approach to potential market volatility, ensuring we're prepared for either outcome.
Salesforce ready for downside- CRM has showed rejection off the .5 fib level which can confirm that W2 is over and we are headed for W3. I would like to see price break through support of the blue lines on the chart to confirm even more that we would be inside of a W3.
I would not be a buyer currently at these levels.
Salesforce Has Been SnoozingSalesforce rallied along with other software and growth names between March and May. Is it poised for more upside after a June pause?
The first pattern on today’s chart is the falling trendline along the recent highs. A break of that resistance could make traders expect the uptrend to continue.
Next, CRM has been stuck near the 50 percent retracement of its drop between November 2021 and December 2022. That’s a natural place for a breather. However other stocks like Tesla and Meta Platforms have continued higher after resting at similar spots.
Third, Bollinger Band Width has narrowed to its tightest range in almost two years. That price compression could be followed by a period of expansion.
Finally, moving averages are still consistent with upward movement in price. CRM has stayed above its 50-day simple moving average (SMA). The 8-day exponential moving average (EMA) has also remained above the 21-day EMA.
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$CRM with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for NYSE:CRM after a negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 40%.
CRM: Buy ideaBuy idea on CRM as you see on the chart because we have the breakout with force the vwap indicator. Thanks!
CRM: Sell ideaSell idea on CRM as you see on the chart because we have the breakout with force the support line and the vwap indicator.Thanks!
