One more push down to 205 or 200 should see a hard bounce. If you are short, it'd be good idea to trim your position.
6.854 level lines up with Consolidation Box POC (Point of Control)
Caution in all asset classes remains. How much risk are you taking on for how much reward you are expecting to acquire? Keep asking yourself that question.
Bulls tried to reclaim the 200 EMA, but were strongly rejected. Salesforce is down 11% in two days. We're entering my "Buy Zone" (where it's on my radar, but I need a confirmation, like divergence, before I'm ready to take a position). I'm expecting a Falling Wedge to form, and will likely wait for it to play out further. It's too risky for me at these levels,...
Calling a short-term bottom on CRM here. This is not a bloated tech stock, it's valued over time. They are currently at a P/S ratio of 8 and I think the stock might have put a temporary bottom. All in all, the stock would still go through the market correction cycle in the long term. In the short term, I expect it to close at least GAP 1. Also, notice the stock...
Nancy Pelosi bought calls for these companies... what more do you need to know?
Caution in all asset classes remains. How much risk are you taking on for how much reward you are expecting to acquire? Keep asking yourself that question.
CRM is a stock with great fundamentals and I honestly believe every company would eventually move to a automated customer relations management system. The stock has been beaten down since last month with no changes in fundamentals and I think it might be time for a reversal after the 20% drop. Trade Idea: 01/21 260C on break of 253 in a 30 mins chart Target:...
Everything is on the chart. We tend to see a bounce when it comes to the 20 monthly MA for CRM. It is currently at 238, its also a demand zone. If we don't bounce this week, watch for that area for a potential long term buy. Chart that goes with the December DD that include CRM !
Expecting to see price rejections around 234 level as sell off continues on Salesforce. With the daily rejection on last week trading day, this might be a reversal signal... N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
IGV, a Software based ETF, is currently at the 200sma which has shown support before. It is also at horizontal support from February highs. Trade setup is drawn in chart. The risk-reward-ratio is above 4. Top 10 holdings MSFT (10%) CRM (9%) ADBE (9%) INTU (7%) ORCL (6%) NOW (5%) ADSK (2%) PANW (2%) SNPS (2%) WDAY (2%) Good luck.
CRM looks to have lost its bullish momentum. My guess is that it'll consolidate near the $312 resistance before ultimately falling to AT LEAST $287. My bold prediction is that it'll fall to $267 by Dec 10 and use the top of the gap as a support for a bounce but...Only Time Will Tell
This is a chart of $CRM. The bars pattern is of $FTNT. You can do this with $ADBE and a number of other tech stocks as well. You'll probably notice $ADBE is leading, I'm betting $CRM will follow. Both will catch up to $FTNT. The structure is ready, we've been drawing this bull flag forever. We've lost all hope in stocks. Biden flushed everyone out that is scared...
(Falling soon) - Not advice, opinion only.
(Opinion Only)
AMD - Measured move complete. CRM: Top of channel around 300. Scaling into some put spreads from here on up. TQQQ:
CRM is showing a potential break on the Daily Chart for a short 5 point move to 300. The 1hr is already showing an entry with initial room to 295 first and if price breaks 295, it has room to 299-300. Stop loss 289.50. I like the consolidation back to the 21Ma on the daily chart and the weekly chart isn't bad either.