Salesforce.com (CRM - NYSE)Flag pattern breakout with a bullish pin bar formation.
Price is like to form a continuation if it is able to hold at this zone.
FOO trade ideas
CRM 20-07-2021 LongAsset and Time frame -CRM,1D
Entry Price -240.41
Exit(Stop Loss) -235.52
Exit(Take Profit) -256.15
Technical Analysis -Price has been going upwards in a daily trend line channel, price reacted strongly to the median line with a hammer and now confirmation candle(when the candle close), volume has been picking up the last few days.
Next week targetEntry: 253-255
Stop loss: 244
Reward/Risk:5
Target range: 280-300
Time Frame: 1-2wks
Possible gain: 11.2(20% for second target)
Possible loss: 2.2%
CRM: Could be breaking out of the consolidation soon!Price broke out of a down channel back in beginning of May, and it went into a consolidation for coming to 2 months.
CRM will be reporting their Earnings on 25th, and price could gap up.
Stop loss can be placed below $237 .
Target will be at $270.
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
VCP Pattern ,Accumulation and Long, BreakoutSimilar pattern from Mark Miervini's book
Rules of VCP
* Volatality to contract from left to right.
* Stock Going from greater volatility on left side of the price base to lesser volatility on the right base.
* Each successive contraction contained to about half (plus or minus a reasonable amoiunt) of the previous pull back or
contraction. CRM 's Contraction T1 20% T2 is 12.18% T3 6.78 % T4 3.70 % T4 still active 2 days 23 hrs left at the time
of writing
* The volatility measured high to low. Small RED volumn bar Big Green Volumn. Volatility decreasing. Selling Activity Dried up.
CRM Earnings Runup + EW-Earnings coming up for CRM, and currently rolling up for a potential wave 5 move
-MACD turning bullish
-Potential long trade idea on the breakout of consolidation or bounce off consolidation support
-Price targets: 256 / 263
-Exit BEFORE earnings regardless of whether price target met or not
-Trade confirmation: MACD stays bullish, 9EMA stays over 21EMA, volume validating move out of consolidation
Minervini VCP PatternPerfect volatility contraction pattern breakout on watch.
The price has been consolidating for several months. The break over 250 should result up trend with target prices of major pivots above. Entry on break of 250 with volume or, retest of the break.
CRM might be breaking out soonCRM has been breaking out downtrending on 4hr chart for a while now. It is trading above both 50 and 180 Moving Averages. CRM has gotten itself in a wedge, making higher lows and lower highs at the same time. If CRM Price Action could break the resistance of the wedge at $253, there is upside in long term to previous ATH at $267. MACD is on positive side and RSI 70. Needs a big volume for this breakout.
CRMPositive price action on CRM but needs to take out RSI 61.8 level which has been problem in the past. Otherwise, momentum is strong.
Inverse Head and ShouldersTargets 1 listed above. Targets 2 also listed in smaller type and are longer term targets. There is a wide rising wedge that may be narrowing but it is not a super narrow convergence of the 2 trendlines. Just something to keep an eye on for now. Negative volume does appear to be picking up. Price is inside the bands set on an 80 DMA. CRM is not oversold or overbought at this time of RSI set on 80 and 30. CRM traded in a shark pattern at the bottom and pulled to the .886 fib level which has helped it break the neckline.
The Head and Shoulders Bottom, sometimes referred to as an Inverse Head and Shoulders, is a reversal pattern that shares many common characteristics with the Head and Shoulders Top, but relies more heavily on volume patterns for confirmation.
As a major reversal pattern, the Head and Shoulders Bottom forms after a downtrend, with its completion marking a change in trend. The pattern contains three successive troughs with the middle trough (head) being the deepest and the two outside troughs (shoulders) being shallower. Ideally, the two shoulders would be equal in height and width. However, the market is not ideal and the RS and LS are rarely exactly the same price. The reaction highs in the middle of the pattern can be connected to form resistance, or a neckline.
The price action that forms the Head and Shoulders Bottom is roughly the same as that which forms the Head and Shoulders Top, but reversed. The role of volume marks the biggest difference between the two. Generally speaking, volume plays a larger role in bottom formations than top formations. While an increase in volume on the neckline breakout for a Head and Shoulders Top is welcomed, it is absolutely required for a bottom. There is a large volume bar marked by yellow star that marks the 2nd break of the neckline after a throwback occurred. The neckline is resistance until broken and then can become support.
This is a reversal pattern so there has to be a preceding downtrend to reverse. While in a downtrend, the left shoulder forms a trough that marks a new reaction low in the current trend. After forming this trough, an advance ensues to complete the formation of the left shoulder. The high of the decline usually remains below any longer trend line, thus keeping the downtrend intact. From the high of the left shoulder, a decline begins that exceeds the previous low and forms the low point of the head. After making a bottom, the high of the subsequent advance forms the second point of the neckline. The decline from the high of the head (neckline) begins to form the right shoulder. This low is always higher than the head, and should be in the vicinity of the the left shoulder. It is considered more bullish if the right shoulder (RS) is higher than the left shoulder (LS). The neckline forms by connecting reaction highs, or the peaks which represent resistance. Depending on the relationship between the two reaction highs, the neckline can slope up, slope down, or be horizontal. The slope of the neckline will affect the pattern's degree of bullishness: an upward slope is more bullish than a downward slope.
The neckline must be broken with an uptrend in place. An expansion of volume is necessary upon break out. Targets are calculated using the length from the head to the neckline and projected up from the neckline. Any pattern can fail and throwbacks below neckline after a break out do happen. This pattern does well in a bull market and not so great in a bear market.
No recommendation. The green triangles are pocket pivots.
I am buying CRM Lot of consolidation happening at 215-225 price range.....I am accumulating it in 215-225 price range keeping stolposs below 209 on closing basis...Once it starts closing above 230 then i am expecting bigger moves....
CRM earnings Run upYellow lines - Overall path and primary trend
Green circles -Rejections at resistance
Purple lines - Rising wedge
Red and white arrows - possible path.
I think either monday or Tuesday we're going to drop down to wedge support which is around the 50ma 240/239. from there you'll have a bounce. from 240 this should make its way up to either 249 (Primary trend resistance) or 256 wedge resistance then make its way back down to wedge support at 246 before earnings where it has the 50/50 chance of gapping on earnings to wedge resistance again at 260 or falling out with a bad ER. a fall through a rising wedge as you know would lead to a trip back to trendline support (Yellowline)
RSI is showing same picture
$CRM Salesforce bullishIf NYSE:CRM surpaces the $250 dollars in the next days and keeps over this amount it would increase between 9% and 20% form its current price
Entry CRM@ $245 Target@ $1,300 Sept 1, 2025 Value GrowthSalesForce, Inc . (CLOUD)
Entry CRM@ $245 Target@ $1,300 Sept 1, 2025 Short Term
Entry CRM@ $245 Target@ $5,000 Feb 1, 2027 Long Term
Technical Analysis Conditions:
1. Break-out of Channel $285
2. Pull-back towards $200
3. Ideal Entry $210 to $250
4. Target @ $1,300 to $5,000
5. Impressive Revenue Growth
Fundamental Assets Descriptions:
Sell smarter and faster with the world’s #1 CRM solution.
See how Salesforce is helping businesses of every size with:
Lead and contact management
Sales opportunity management
Customizable reports and dashboards
Align, manage, and motivate sales teams with collaboration tools
and built-in CRM insights. Drive growth in a virtual world with the
best in class sales solution. Learn more.
Company Website: www.salesforce.com
Trade Idea on CRM - Trading the Flag PatternHi! Today we will share with you a trade idea (real setup we will execute on CRM)
First, let's understand what we can see here from a technical perspective.
a) The price was inside an expanding structure defined by the dynamic support-resistance trendline (white line) and the support level.
b) After a huge GAP that broke the expanding structure, we observed a 270 days consolidation (Flag Pattern).
c) In June, we saw the breakout of the Flag Pattern that tends to anticipate the beginning of a new movement once the price reaches a specific confirmation level (ABOVE "B")
d) Based on the previous items, we have defined pending orders above "B" and stop loss below "C" the key idea of these levels is that they are on price levels that provide good confirmations in term of broken levels. This type of approach increases the possibility of success.
e) What about the target? We have used a principle developed by Elliott, "New Impulses have correlations with the previous ones." In this case, using the previous impulse (Before the Flag Pattern), we can draw Fibonacci Extensions (nothing more than fixed proportions) to define 2 targets.
f) How long can it take this movement if everything goes as expected? Between 200 and 350 days.
g) How much do you risk in a setup like this? ALWAYS 1% OF our capital, never more. What does it mean? If you have a 10.000USD balance, you want to have a maximum loss of 100USD if the price reaches the stop loss.
Is this a forecast? Not at all; this is a scenario that our system tells us, "Here you have a 50% chance of having a winning setup, with a risk-reward ratio of 2.36" With that clear, this is a bet we will take 100 times. The most probable thing is that we will be wrong 50 times and right other 50. Our main goal is developing a positive expectancy over the long term. In other words, "an edge."
Thanks for reading!
CRM MONSTER MOVE COMING!!!-We successfully closed above the 9-day ema and had a little pullback
- Now we have a clear pathway towards next level of resistance we can take a position here on monday once we see a clear trend starting to form
-you can also wait till we break that resistance level then take a safer position.
-Once we break levels there then we are gonna be sitting in deep profit already and this can go back to ATH from here.
Short long play / Just for fun!Take a look this is just for fun please. I am not a financial advisor or a professional trader. Just a random guy on the internet.
CRM - Sideways and then downCRM - Sideways and then down
Could go either way but looks like we have a difficult resistance line to break.
