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CRM trade ideas

CRM’s Bullish Setup: Inverted Head & Shoulders BreakoutSalesforce Inc. (NYSE: CRM) continues to innovate and maintain its position among the leading players in the cloud space, as highlighted in recent financial reports. The company’s growth has been driven by its focus on customer relationship management (CRM) technologies and its expansion into artificial intelligence, which has bolstered its offerings. Despite broader market headwinds, Salesforce has managed to navigate the tech sector’s volatility with strategic initiatives and solid earnings performance. Technical Outlook: Inverted Head and Shoulders Pattern On the weekly chart, Salesforce stock shows the formation of a classic inverted head and shoulders pattern, a bullish signal indicating potential upward momentum. The key resistance level stands at $314.70 , which the stock attempted to breach earlier this year, experiencing rejection in February, marking the stock’s all-time high. A retest of this key resistance appears likely in the near term. If the stock manages to confirm a breakout above this zone, our target price is set at $339.48 , a level that aligns with historical resistance and bullish momentum projections. To manage downside risk, we suggest placing a stop loss at $259.75 , a lower support level that provides solid technical backing in case of market reversals. This setup offers a risk-reward ratio (RR) of 1.5, making it an attractive option for traders seeking a medium-term position. Quantum Probability Indicator: Strong Momentum Signals Our proprietary Quantum Probability indicator, W.ARITAs , further strengthens the bullish outlook on CRM stock. The indicator points to strong technical momentum, suggesting a high probability of the stock moving toward our target zone. This momentum aligns with Salesforce's broader market positioning and favorable investor sentiment. Conclusion: Positive Short-Term Outlook for CRM Salesforce Inc. has demonstrated resilience in a challenging market environment, and its technical indicators now suggest a potential breakout. With a target price of $339.48 , a stop loss at $259.75 , and a 1.5 risk-reward ratio , this setup presents a favorable opportunity for traders looking to capitalize on bullish market conditions. As always, investors should remain cautious and monitor key resistance levels for confirmation of a breakout. Disclaimer: This analysis is based on technical indicators and market observations. It is not financial advice. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.
NYSE:CRMLong
by insidermike
Salesforce (CRM): Potential bearish flag formingOne of our members asked for an analysis on Salesforce ( NYSE:CRM ), and we've taken a closer look at it. Initially, it's a bit challenging to see the full picture, but if our Elliott Wave count is accurate, we marked the end of wave (2) at $115.29 after establishing wave B, which was exactly between the 127.2% and 138% Fibonacci levels. It appears that wave 1 was put in with a new high slightly above wave B, taking out the resting liquidity (likely due to profit-taking and closing of long positions). Following this, there was a 33% drop, and here's where it gets tricky. Normally, we would expect this decline to continue, suggesting that the current rise is merely a relief pump. However, wave ((a)) perfectly touched the HVN POC, which indicates a slight chance that this could be the bottom. That said, we still believe that a continuation down to the 61.8-78.6% Fibonacci level is more likely. Zooming in on the blue-circled area, we notice a textbook bear flag pattern developing. While we don't typically trade based on chart patterns, it is difficult to ignore this one given its clear structure. It becomes even more significant if there is a wick above the upper trend line of the flag, which could trigger another sell-off by taking out the liquidation levels. Such a wick would also fully close the gap and enter our targeted area where we anticipate a possible reversal. To be clear, we are not trading this bear flag pattern or the targeted area just yet. Instead, we are using this setup as a means to validate whether our bearish outlook is correct or not. We’ll continue to monitor the development closely and provide updates as we gain more clarity.
NYSE:CRMShort
by freeguy_by_wmc
2
CRM – Key Levels to Watch: 150 SMA SuportCurrently, Salesforce (CRM) is trading near the 150 SMA (268.37), a crucial support and resistance level. A few key signals have emerged: Buy Opportunity: A potential buy signal is around 272.40, which marks a breakout point above resistance. If the price breaks and holds above this level, it could signal the start of a bullish move, and the next upward momentum might develop. Current Position: The stock is hovering near the 266.80 level, between the current price and the stop loss. This could be a neutral zone where following the price action closely over the next few trading days is key. Watch for any breakout above 272.40 for bullish confirmation, or a drop below 264.35 to confirm bearish momentum.
NYSE:CRM
by yaronsb
Salesforce (NYSE: $CRM) Surge on Strong Earnings ReportSalesforce.com Inc. ( NYSE:CRM ), the global leader in customer relationship management software, has witnessed a notable 4.8% jump in premarket trading, trading at $271.25, following its robust second-quarter earnings report. The company’s impressive performance and upgraded full-year profit outlook have set the stage for a potential breakout from its current technical formation, signaling a promising trend for investors. Let’s dissect the fundamental strengths driving Salesforce’s stock and explore the technical factors that could influence its future trajectory. Earnings Beat and Strategic Initiatives Salesforce ( NYSE:CRM ) exceeded expectations with its second-quarter results, revealing strong performance in both revenue and profitability. The company reported better-than-expected earnings and raised its profit forecast for the fiscal year ending January 2025. This upbeat report was fueled by increased customer spending on Salesforce’s suite of cloud products, particularly as companies invest more heavily in AI-driven solutions. The enterprise software giant also announced a strategic push into artificial intelligence (AI), integrating these technologies into its products like Slack. This move is seen as a significant growth driver, positioning Salesforce as a potential leader in AI-enhanced CRM solutions. Despite a challenging environment marked by leaner corporate budgets and intensified competition, Salesforce managed to deliver better-than-anticipated results, showcasing its resilience and strategic foresight. Moreover, the company’s market capitalization is set to increase by $14 billion if the premarket gains hold, bringing its valuation to approximately $248 billion. This reflects strong investor confidence in Salesforce’s growth prospects, bolstered by its AI initiatives and ongoing restructuring efforts aimed at expanding margins. Technical Outlook: Symmetrical Triangle Breakout From a technical perspective, Salesforce’s stock is at a critical juncture. The shares have been trading within a symmetrical triangle pattern since mid-May, with the recent earnings-related pop positioning the stock for a potential breakout above the pattern’s top trendline. This trendline, currently at $265, has previously served as a resistance level but could now flip to act as future support, particularly with the nearby upward-sloping 200-day moving average reinforcing this level. The key price levels to monitor include $287, $311, and $340: - $287: This level represents a potential area of overhead selling pressure, stemming from a trendline that connects April 15’s gap day high with a period of consolidation in May. - $311: A move above $287 could see the stock advance to this level, which aligns with trading ranges from March and early April, just below the record high. - $340: Based on the symmetrical triangle’s measuring principle, adding the distance of the triangle to the top trendline projects a target of $340. This level represents a significant upside potential and could mark a new high for Salesforce. The breakout from the symmetrical triangle pattern, if confirmed, could signal the start of a new upward trend. However, investors should be prepared for potential retracements and monitor the $265 level for support, as this area is critical in determining whether the breakout will sustain. Strategic Considerations and Future Catalysts Despite the positive earnings report, some analysts caution that sustained rally potential may require additional catalysts. Upcoming events such as the Dreamforce conference and new AI solution launches could provide further impetus for growth. Salesforce’s planned introduction of the Agentforce platform, still not commercially available, might also play a pivotal role in driving future growth. Goldman Sachs analyst Kash Rangan highlights Salesforce as an “under-appreciated AI winner,” thanks to its differentiated data and early success with GenAI agents. This recognition underscores the company’s potential to leverage its AI investments for continued market leadership. In conclusion, Salesforce’s strong earnings and strategic AI focus have positioned the stock for a potential technical breakout. While the current bullish trend is promising, investors should keep an eye on key price levels and remain vigilant for any emerging catalysts that could further drive the stock’s performance.
NYSE:CRMLong
by DEXWireNews
Salesforce Potential Resistance Breakout At $265.94 27.08.2024Apply risk management Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure. BDSwiss is a trading name of BDS Markets and BDS Ltd. BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene. BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. Payment transactions are managed by BDS Markets (Registration number: 143350) Disclaimer
NYSE:CRMLong
by Stuart_Cowell
Ichimoku Watch: Salesforce Poised to Breakout Higher?Upcoming Earnings Salesforce, Inc. (ticker: CRM) is scheduled to report earnings after the market closes on 28 August. The consensus earnings per share (EPS) estimate for the fiscal quarter ending July 2024 is $1.73. The reported EPS for the same quarter a year prior was $1.63. Vulnerable Resistance? Resistance is currently being tested at US$263.42 but shows signs of giving way. While a head-and-shoulders top pattern was recently completed at the underside of the aforementioned resistance (this is more visible on the H1 chart), which could see short-term shorts enter the market and aim at the pattern’s profit objective of around US$253.63, sellers have been unwilling to demonstrate much commitment at resistance in recent trading. Ichimoku Support You can see price action closed above the Ichimoku Indicator’s Conversion Line (blue at US$260.27) as well as the Base Line (red at US$260.19), and the Ichimoku Cloud is seen nearby. This comprises the Leading Span B (light orange at US$251.40) and the Leading Span A (light green at US$260.33). As a result, the stock has sufficient support to withstand selling. Should a breakout to the upside occur, this could trigger breakout buy-stops and power a move towards the next layer of resistance coming in at US$279.28. Price Direction Although sellers may enter the market from current resistance, the nearby Ichimoku support and the lack of bearishness could eventually stir up a bullish move to target fresh resistance at US$279.28.
NYSE:CRMLong
by FPMarkets
Gray clouds for GrowthStocks without AIHello Trader, The cloud enterprise sector is starting to anticipate a number of gray clouds and it is starting to look like there are several companies favored to get their act together or fall off the AI Boom list. The Cloud services industry includes giants such as: - Salesforce(NASDAQ:CRM) - MongoDB(NASDAQ:MDB) - WorkDay(NASDAQ:WDAY) With BVP Nasdaq experiencing a 10% correction this year, and the reason is the transition of GrowthStocks to Mature - consolidated companies and that makes them miss their own current sector trend. In addition to this, native AI companies are putting these giants in trouble. Do you think it might be the right time to invest in any of these three? Please, I look forward to your comments! Happy week end. Ion Jauregui - Analyst ActivTrades ******************************************************************************************* The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
NYSE:CRMLong
by ActivTrades
CRM - Continuation of the Downtrend CycleThe alignment and compaction of Fiboclouds signal the continuation of the downward movement. If this projection is confirmed and a partial realization occurs at the first target, the stop loss should be moved from its initial position to the same line where the position was entered. This way, the journey towards the final target will proceed with reduced risk of losses and the preservation of the partial gains achieved so far. Follow us to receive notifications of new trades as well as frequent updates on ongoing trades. Finally, if you agree with the idea or found it useful, please give it a BOOST so that it can reach more people! Thank you!
NYSE:CRMLong
by EthosInvest