BUY if price breaks and close $44.50
SELL (short and risky): if price drops and close below $44
Any insight is welcome.
Remember, this is only published to share my view and analysis!!!
Always do your own due diligence before making any trade.
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...
On 4/14/2021, Coinbase went public with the ticker NASDAQ:COIN . This was a pretty heavily-anticipated listing if for no other reason than that there aren't really any other crypto exchanges you can buy that are traded on a major US exchange. There are some OTC options, but when it comes to a symbol that trades on a US exchange this is a big milestone. Tons of...
So slack is looking very bearish on the Weekly TF. With its RSI over-bought/ BlueWave giving red dot (sell signal) with a bearish divergence. Also, earnings are coming, and I don't expect slack to go higher EVEN with great earnings.
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...
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...
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...
I'm short $ZM since earlier today, I believe it has peaked here. Investors are likely to take profits now that competition has increased dramatically for them.
They thrived when the world was locked down due to the threat of COVID-19, but now that vaccines will be widely available and distributed globally very soon, holding shares has become extremely risky. I'd...
Slack's stock has been following this descending channel since it's boom in June.
Investors noticed that Slack is a good "corona" stock since people are working from home and therefore need some kind of communication tool. However, Slack is losing the fight from Microsoft's teams, which is simply a better and more developed product.
My play would be that the...
EW analysis shows that $work is working on a a wave 3 sub formation (yellow) within a larger wave 3 impulsive structure (white) that started back in march. Its hit the technical levels perfectly. The algos are in play!
On a shorter time frame, the Andrews Pitchfork shows a beautiful bounce off the bottom of the channel, with and 80% chance the price will approach...
Slack (WORK) has failed to break out from its downward trend that started in June.
Despite my strong bullish long term view on Slack the outlook for the next few weeks remains not very positiv - support levels at 28.60 / 27.30 / 23.60 could be seen as entry points to accumulate.
$WORK Slack - Hitting resistance today at $30.50 and beginning to retrace.
Unusual Bearish Options Activity Yesterday -
12k $30.00 strike (ITM) Dec'20 puts traded vs open interest <2k or 6x OI for a total premium outlay of $5M
Near term target: $25.00-$26.00 range by late October
Note: This is NOT investment advice.
I see a clear healthy on SLACK with RSI above 50, breaking the channel on RSI as well.
14 and 21 periods EMA giving a buying signal so overall this looks good to me.
TP1 - $26.50
TP2 - $28
Please let me know your thoughts.
$WORK got destroyed by Zoom? will it get pumped by the Nasdaq? Who knows.
What I know is that is sitting and coiling on the lower channel structure...big move can happen soon.
So, LET'S PLAY BOTH WAYS.. WIN WIN situations that's what I like