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SALESFORCE INCSALESFORCE INCSALESFORCE INC

SALESFORCE INC

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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.
NYSE:CRMLong
by JChartWithU
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.
NYSE:CRMLong
by TradeStation