Fib Retracement on IBD 20 stock $CRMBullish Intermediate outlook indicated by DCG Alligator. Price could retrace to 0.618 level before continuing the bullish trend. Low volume on the last three 4H periods.
CRM trade ideas
CRM Retest/RemountCRM has retested its prior breakout level of $165 and has now remounted itself for another push towards the high around $183.
Bullish above cloudsThe stock has just broken above the upper boundary of a rising wedge pattern and the 61.8% retracement level between Feb 2020 high (Point A) and Mar 2020 low (Point B) with a bullish candle. The Lightning cloud has crossed above the Thunder cloud and is heading upwards with narrow shape, indicating that the short-term upward momentum is getting stronger. On the other hand, the future Thunder cloud has already twisted to bullish (with yellow color now).
The daily RSI stands firmly above its neutrality level at 50% and is heading upwards. The MACD is above its signal line and 0-level, while the MACD histogram is broadening.
In these perspectives, we are positive with stock and expect it to go further upside towards $178.50 in coming sessions.
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CRMBased on my analysis,
1. Double bottom pattern for CRM is valid and completed with high volume than average.
2. Right now, price will pull back because at strong resistance and formed tweezer bottom.
3. I advise to entry at range 165-166 USD (because of between neckline price & 0.618 fibo retrace) and take 1st profit at 183 USD and 193 for 2nd take profit.
Syeikh Hafiz
Stock Market Analyst
Salesforce.com: Another Software Name, Another Bullish TriangleSoftware has been one of the strongest industry groups lately as investors view it as largely immune to Covid-19. On Tuesday we highlighted Microsoft’s bullish triangle , and today another major player has a similar pattern.
Salesforce.com is pushing against the $165 area that held it in check last year (flagged in this idea ). CRM has also made a series of higher lows since getting slammed lower back on April 21. The 50-day simple moving average (SMA) was providing resistance at that time, but now the stock is fighting past that line in the sand.
CRM has also managed to get back above its 200-day SMA in the process.
Traders may want to use the April high of $165.30 as an entry trigger.
SalesForce - Rising Wedge, topping patternSalesForce, finishing a rising wedge on decreasing volume.
Will possibly fall out of the wedge and will finish forming the right shoulder when re-testing the breakdown.
Dump it.
CRM has a big potential to go upSALESFORCE.COM INC is going to have a bullish trend in the next weeks.
Daily trend nearing 61.8% retracement levelAs with numerous tech stocks, $crm is presently in bounce mode...at least until the 61.8% fib retracement zone is reached.
NYSE: CRM shows Daily Breakout backed by Weekly MomentumNYSE: CRM has broken out in Daily Time Frame backed by strong bullish Weekly momentum.
Entry can be at last daily close or a tick above.
