Daniel.B
Long

Resistance turned Support

NYSE:CRM   SALESFORCE.COM INC
104 2 4
I saw this way of color coding resistance / support on another trader's chart and thought it looked pretty cool in defining resistance turned new support. Also, we've experienced quite a correction / pullback in the equity market so for me personally if I'm buying dips, I'm buying strength for the most part with a little left to more volatile stocks. Interesting enough CRM             was not hit as hard as the rest of the equity market during the correction, which can be due to a variety of fundamental & stock holder reasons. So in the simplest of terms I'm looking to buy into a D1 chart pullback if we get one in between the 65.00 / 70.00 area.

With the primary trade target being the 75.00 area, and the secondary target being the 80.00 area.

Cheers =)
Comment: Will update new chart post on CRM, looking to take a cheeky little short on a potential retracement back to support.
Thanks, I think I might also copy that resistance/support charting method.
+1 Reply
Daniel.B tristan.rhodes
No problem glad you liked the chart! =)
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