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CRM trade ideas

Salesforce. CRM. Reverse Engineering a Decision.I went long a 240 call option earlier this week on a total gut play, and it turned out to be my best trade. Now I'm reviewing to get some positivity in to start the weekend, and maybe put into trader language what my gut was seeing. Key things I notice about the trade: Non-Indicator elements noticed: - It had nice bounce off the most easily visible liquidity zone. - It had a TLB from the February high. - It had a break of resistance ceiling and follow through. Maybe the stacking of these three elements is what led to the push through what could be viewed as the middle territory. Indicator elements noticed: - At the placement of the trade the indicators were saying it was a terrible decision. At least, from the Daily viewpoint. - The RSI proved pretty useless in this example. - The Stochastic crossover would have provided a nice entry. At the end of the day, there is no other way to classify a gut play than gambling, which is unfortunate, because it was my best trade of the week and now I'm having potentially unsustainable habits reinforced. Maybe I can find some way to confluence these ideas moving forward.
NYSE:CRMLong
by emehoke
Making Progress?CRM is still inside a channel down but has broken up again from another bullish falling wedge. A break from the channel down would definitely be bullish. CRM is trying to break over the 50 moving average which is bullish. The support from the gap may hold but has yet to be tested since price went over it a few days ago. CRM is making higher bottoms right now, and the recent bottom of 201.51 has not been broken. No recommendation A trader with a lot of money meets a trader with a lot of experience. The trader with experience will end up with his money, the trader with all the money will end up with an experience.
NYSE:CRM
by lauralea
3
$CRM Chart (Per Request)A follower asked about $CRM chart, so here it is. Salesforce been in a down sloping parallel channel since September of last year. If you flip to the weekly bars, the pullback looks like a bull flag after a big rally from March 2020 bottom. That said, the decline from the highs is about 30% which is a bit deep to my likings. Also, if you have been following me for a while, this type of trading is not my style. The stock is trading around the bottom of the channel, so the more probable scenario is a bounce attempt back to the upper channel boundary. A trade could be taken here with a stop below the low from few days ago.
NYSE:CRM
by TaPlot
Potential Short Sell: CRM - Salesforce.comA strong resistance line at RSI 38 in the daily chart. Price break away from priceline indicate a strong bullish momentum. A potential chance to sell short will be when the RSI re-bounce away from the 38. Since the price already break away from priceline, a new priceline and RSI resistance might be created in the next few weeks (which means RSI 38 will no longer be the RSI resistance) and short sellers have to determine a new resistance for entry. From then on, price will decelerate at a rapid speed and a trailing stop-loss (around 10%) will be a good strategy to maximize profit target. *Above mentioned is only my own opinion. Please bid at your own risk should you take in my idea. Thank you and have a nice week! =)
NYSE:CRMShort
by kaysonchan
1
Watching a StruggleIt looks like a battleground on this chart. Price has pierced the bottom bollinger band set on an 80 moving average so there is a lot of selling pressure. Price likes to be inside those bands, but in a bear market, that can be a short signal. I am not sure what kind of market we are in. I do think this sector is on the bearish side though. So not sure which way the break of the bottom band points, bullish or bearish. Short interest is not high. Negative volume and On Balance volume are both high. If this sector was bullish, then I may think the break of the band is on the bullish side. The top looks ugly )o: Resistance directly over price from the prior gap up. I think they beat earnings recently? CRM broke up and out of a bullish falling wedge recently, Made a run to the upside, only to return to the battlefield. Price did not fall an awful lot today like some others in this sector. Positive sign, I would think. Making it to the end of a deep pull back seems to take so much longer than making it to the top. Price has pierced the bottom trendline of the bearish rising wedge that CRM broke up and out of a while back when it had a fantastic run to the upside. But the rising wedge was still sitting down there, waiting on CRM )o: I haven't seen this happen often, price breaking up and out of a RW. Price seems to be fighting hard to stay out of that rising wedge it left behind. I hope that a H&S is not forming at the end of that channel. Kinda slopey right now. OUCH! I have been watching this one off and on for a while. It just did not look good when it started pulling back. I have learned the hard way, not every dip is a buy and sometimes a pull back can slowly end a trend. )o: There appears to be a channel down as well. A channel down is, well down, until price breaks up and out of it, which we all know happens. The 200 day moving average is tilting up. The 50 and the 100 do not look so hot. Long term, I guess this is still okay. The 100 is over the 50 and should be vice versa. The 50 is trying to cross down through the 200. Some call that a "death cross". It has not quite made it through the 200 yest This one is not quite to a place that makes me want to give snatch it up yet. Mr Market has been cruel to this sector as well. I would imagine CRM is getting tired by now )o: Wore me out just doing this chart..lol No recommendation. Everything changes. Looks like a close football game, and you have money on the team that is behind by 3. But their defense is worn out, and the team that is winning is on the field with 2 minutes left in the game )o:
NYSE:CRM
by lauralea