CRM is forming a possible Adam & Eve double top formation. Moneyflow is diverging & now sharply heading down. It also has a lot of insider selling recently. We think it has very good decline potential. On the option side we would consider June $85.00 Puts, last traded for $5.00
* Trade Criteria * Date first found- March 20, 2017 Pattern/Why- Adam & Eve double top formation Entry Target Criteria- Break of $82.46 Exit Target Criteria- $78.33, 2nd - $75.13 Stop Loss Criteria- $84.57
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Trade active
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March 21st- Very nice downward move hitting our entry criteria, and closed at the bottom of the range. Looking very good as Short.
Comment
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March 30th - Holding below MA resistance, wait & see situation.