Price appears to have broken the neckline of a H&S pattern, consolidated, then formed a triple top at the prior neckline which is now resistance. Price could not break above the resistance of the prior H&S neckline.
This chart is similar to CRM in some ways. Like CRM, there is also a possible Cypher or Shark forming on weekly which would take price quite a bit lower if so. Both landing pads are marked down with a blue X.
Short interest is around 3.9%.
These are Heiken-Ashi candles. I look at them when I need to eliminate market noise that typical candles can create. Since noise is filtered, you can see the naked trend.
The Heikin-Ashi Open is the average of the prior Heikin-Ashi candlestick open plus the close of the prior Heikin-Ashi candlestick. Green candles with no lower shadow signal a strong UPTREND. Red candles with no upper shadow signal a strong DOWNTREND. These candles can show trend direction as well as trend strength.
These candlesticks do not show a shadow in the unless it is in the direction of the trend. When there is no shadow/wick (shaven), price is in a strong trend.
So a strong trend consists of shaved bottoms that are green for an uptrend and shaved heads that are red in a downtrend.
I will revisit this as targets could get lower dependent on market conditions. Today it is raining bullets )o:
Earnings May 30th.
No recommendation.
Weekly Chart
www.tradingview.com/chart/KWxoAhoG/
This chart is similar to CRM in some ways. Like CRM, there is also a possible Cypher or Shark forming on weekly which would take price quite a bit lower if so. Both landing pads are marked down with a blue X.
Short interest is around 3.9%.
These are Heiken-Ashi candles. I look at them when I need to eliminate market noise that typical candles can create. Since noise is filtered, you can see the naked trend.
The Heikin-Ashi Open is the average of the prior Heikin-Ashi candlestick open plus the close of the prior Heikin-Ashi candlestick. Green candles with no lower shadow signal a strong UPTREND. Red candles with no upper shadow signal a strong DOWNTREND. These candles can show trend direction as well as trend strength.
These candlesticks do not show a shadow in the unless it is in the direction of the trend. When there is no shadow/wick (shaven), price is in a strong trend.
So a strong trend consists of shaved bottoms that are green for an uptrend and shaved heads that are red in a downtrend.
I will revisit this as targets could get lower dependent on market conditions. Today it is raining bullets )o:
Earnings May 30th.
No recommendation.
Weekly Chart
www.tradingview.com/chart/KWxoAhoG/
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