Back on Dec. 18 2021 I called a short in CRM. I appeared awkward and weird at the time when I made such a call on a high-quality stock like CRM.
Jan 6 2022 I once again reiterated my short call by saying how nice it was to have a 10% gain as a cushion to continue to hold the short.
Since then the price has collapsed 45% from the top. Will it break a Decade long Channe? I'd say yes there is a very good chance that it will given the right short setup.
Taking some profits here is wise but closing out the short is outright I think is premature.
Nice chart. I have seen the pattern often lately - price breaks up out of range only to reverse back in and then break lower. Makes great trade setups.