CRM has consolidated for almost 3 weeks, after gapping down on the news it had acquired Slack (WORK). Risk reward ratio is around 3. A potential test of the pre-gap candle lows might be in place before attempting to reach the 50sma, and subsequently the top of the gap. OBV line has tested and is now respecting the line that was made before the gap higher.
Why so bearish on the slack acquistion? I see this as a huge sell the news and sell the "oh they could have built their own, or bought someone cheaper". Sure they could have but they didnt. So time to move on and explore what they are going to build with Slack now. Buy support. sell Resistance. Why stress about anything else?
Let's see whether it test 200 SMA or reverse here.
Possible buy opportunity as Salesforce is in oversold territory and bouncing off an important support trendline, meanwhile breaking a resistance trendline.
Salesforce took a pretty big hit after announcing the WORK (slack) buyout. It's clear the price has stabilized and is looking to climb again. My favourite ETF, ARKK has also purchased a bunch of CRM at this bargain price. I'm looking to takes calls or buy shares when the price closes above the 229.6 region, which seems to be where the accumulation wall is. I'm...
CRM has shown strong support at $220 in the last few trading days and has shown weakness at the $229 wall. The $228 support that we found in October has subsequently turned into a resistance point. The following are the three outcomes for CRM stock in the next 3 months: 1. If it smashes $229 resistance, the stock could rally to $240 2. If support at $220 is...
$CRM waiting for CRM at 200 level, let's see if it comes there.
fuck it .
So CRM bought slack in a fairly expensive price and this caused investors to pull out and run -which is good because the stock needed to retrace and retrace the gap area between 220 -250. let’s focus on technical : Stock is moving in a downward trend with no lower highs only lower lows which means we are technically not in a downtrend ! the gap from 25th of...
I think the Salesforce acquisition of Slack was genius. Why? They now have access to all of Slack's clients and companies. They can integrate all Salesforce products into it and go right after them to upsell them Salesforce products. This is a great attempt by Salesforce to keep growing revenues. However, there is more to this story... Before we get to the bear...
$CRM - GAP FILL AFTER INVESTORS DAY AH, EXPECTING A STRONG MOVE ABOVE 230 TO 250 AREA
Salesforce is looking oversold to me and is heading straight for a support level that previously was a significant resistance (look at that breakout once buyers broke through). RSI is showing this as oversold. I am betting on a resistance to support flip and think this is a decent entry with small downside. Bullish on Salesforce as companies continue to rely on...
Unless we break down from this structure, this should play out :)
A quick look at what I'm projecting viewing the hourlies. Seems like Saleforce is bouncing off so strong support.
Fundamental: Salesforce acquires Slack for $27.7B, making the biggest acquisition in its 21-year history. Technicals: Price action broke through a HTFZ at the high end of the curve. I'm anticipating a drop in price between the $147 - $165 levels. We shall see...
Its dropping fast now. but I am seeing a reversal very soon base on my analysis. A good time to go LONG.
Video breakdown of $SNAP $DKNG $WORK
Hello Traders, SalesForce is a nice sell because it's hitting a large volume of sell orders right now. A good candle information at the big order zone will be the trigger for the sell. I will be posting updates if necessary. Thank you.