Salesforce new all time high before Christmas! R/R very good

Nasdaq is down 13.5% off of its ATH while I'm making this call. :) Blood is in the streets.

NYSE:CRM Has built a massive Inverse H&S pattern that is completing it's trend reversal process and about to explode to a new all time high. We're seeing accumulation and accelerated buying right now while the market overall is extremely fearful and bearish (overly so). Fundamentally this company is on fire. It's currently significantly undervalued because of the fear in the market and since earnings is weathering the storm like a rock. I've taken this opportunity to accumulate significantly more.

Salesforce is on the A-team of the software squad and ideally positioned to harpoon any whales that come near their boat.
It has promoted itself as the emblematic tech growth stock promising to smash $16 billion of annual revenue by next year.
The number of deals generating more than $1 million was up 46% YOY in the third quarter.

Salesforce is poised to continue its ascent and that basically means quarterly sales growth in the mid-20s for the foreseeable future.
There is an addressable market of $200 billion and the pipeline is rich as ever could be.
Salesforce has really turned the corner with free cash flow and profitability. It was only a few years ago they were turning in heavy losses, but this new Salesforce will be even more profitable as the network effect makes the sum of the parts and each add-on cloud-based software tool even more valuable.

Salesforce beat and raised its outlook calming the frayed nerves of investors looking to dump software stocks.

Just look at the billings growth that was anticipated at 19%, Salesforce smashed it by 8% coming in at 27%.

Not only are they scooping up new customers, but renewals have been just as robust.

The truth is that Salesforce can’t roll out enough cloud-based software products to meet the insatiable demand.

All of this backs up my thesis that software stocks will be the outsized winners of 2019.
Dec 10
Comment: And bullish divergences...
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