FOO trade ideas
Salesforce Has Been SnoozingSalesforce rallied along with other software and growth names between March and May. Is it poised for more upside after a June pause?
The first pattern on today’s chart is the falling trendline along the recent highs. A break of that resistance could make traders expect the uptrend to continue.
Next, CRM has been stuck near the 50 percent retracement of its drop between November 2021 and December 2022. That’s a natural place for a breather. However other stocks like Tesla and Meta Platforms have continued higher after resting at similar spots.
Third, Bollinger Band Width has narrowed to its tightest range in almost two years. That price compression could be followed by a period of expansion.
Finally, moving averages are still consistent with upward movement in price. CRM has stayed above its 50-day simple moving average (SMA). The 8-day exponential moving average (EMA) has also remained above the 21-day EMA.
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$CRM with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for NYSE:CRM after a negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 40%.
CRM: Buy ideaBuy idea on CRM as you see on the chart because we have the breakout with force the vwap indicator. Thanks!
CRM: Sell ideaSell idea on CRM as you see on the chart because we have the breakout with force the support line and the vwap indicator.Thanks!
#CRM straddle detected! Notional value - 1.2M$.A trader who has a STRADDLE will open a long position at a support level or a short position at a resistance level safely.
He will not lose money if the market goes in the opposite direction.
BIG MONEY likes this plan and we can watch them and use support and resistance levels as ways to get in.
CRM squeezing in a ascending triangleCRM has been pumping upwards with close to no pullbacks. CRM now squeezing in the ascending triangle. Will it break upwards and continue the upward trend?
CRMlooking to break above 222
there are some ai related news
as long as the price is following the channel the momentum is bullish
CRM long running Bullish channelCRM has been runnning a very long term Bullish reversal pattern
If we take previous High of 306 as the base of Fib retracement then we are right at the golden fib pocket which is confirming a bullish reversal
After last good earnings it made a high of 224 and then made a low of 205 .
Right now its in kind of a accumulating mode where 205 is being tested multiple times.
As per the trend we are at the bottom of the channel and there can be a potential breakout
Entry @ 205-209 area
TP1 @ 224
TP2 @237
SL @ 197
Watch very closePrice is sitting on an important area of support. I'll wait for a clear break down before load myself with puts. The other option is to wait for a push back of the support area and then short before it tries again to break it. I'll keep you posted.
Rising WedgeThe bottom line of the rising wedge has been broken so it is now valid.
Price can fall to the bottom of where the wedge formed or depending on the market, it can fall even lower. Price can also stop falling when it hits a support level within the wedge.
The more candle touches a support line has, it comes a stronger support level. The more touches a resistance line has, makes it a stronger level of resistance.
Target 1 of the cup and handle was met and sometimes all we get is T1.
No recommendation.
Cup and HandleThis has broken long entry level of 197.47.
Any pattern can fail especially Cups as of late.
I suppose market chop is hard on a cup and handle pattern.
NO recommendation
CRM Salesforce Options Ahead of EarningsIf you haven`t sold CRM here:
then Analyzing the options chain of CRM Salesforce prior to the earnings report this week,
I would consider purchasing the 230usd strike price Calls with
an expiration date of 2023-9-15,
for a premium of approximately $9.05
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
CRM Entry, Volume, Target, StopEnter when price clears 200.13
With daily volume greater than 6.6M
Target: 217.75 area
Depending on your risk tolerance: 194.25 gets you 3/1 Risk/Reward
CRM- Rising Trend Channel [MID TERM]🔹CRM is in a rising trend channel in the medium long term.
🔹There is no resistance in the price chart and further rise is indicated.
🔹In case of a negative reaction, the stock has support at approximately 190.
🔹CRM is assessed as technically positive for the medium long term.
Chart Pattern;
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH | 🟢
🔹HNS - Head & Shoulder | BEARISH | 🔴
🔹REC - Rectangle | 🔵
🔹iHNS - inverse head & Shoulder | BULLISH | 🟢
Verify it first and believe later.
WavePoint ❤️
$CRM Resistance at Fibonacci LevelNYSE:CRM Weekly chart shows strong up trend, 50% Fibonacci level coming up
CRM - Salesforce potential buy entryWhen you take a glance at the CRM chart on the Weekly time frame, you can see that the stock made it's important move above the 200SMA line, which is considered as a good bullish sign for any stock to start it's rally up.
Things to consider when looking at CRM chart:
1. On Weekly time frame, price confirmed it's last known support levels sitting at $191.5 and $195 price levels.
2. If todays CPI data are good, potential buyers may enter the market and all stocks could see a potential upside buy momentum.
3. According to todays inflation news, my entry will be partial, I will not enter the full position since we have a resistance zone just above the current price level, sitting at $203.5 to $206 price range.
4. If the above mentioned resistance line gets broken, I will surely be adding to my position.
5. I will not let the price of stock move a lot, my stop loss level will be set in place at price right below the box which is the last support line. Price I am looking for potential stop loss is set to $108.5. On Weekly time frame, that is just below the 200SMA line. On Daily, it is just under 50SMA line. In my opinion, those are good levels to exit the position if the price has a significant drop.
6. Ideal Take Profit price is set to $275.5 level, which is a good resistance zone. That doesn't mean I will held or close the position, this is just my long term price goal for the stock. If market gives me a clear signal, I will either exit the position or add to it, depending on the signal given.
Of course, this is not a financial advice. This is just my personal opinion. Please do your due diligence before investing. NYSE:CRM
Salesforce (CRM) RISING HIGHERshort term long.If pullback is supported by low volume long. IF the pullback will be followed by high volume short
Salesforce (CRM)
One of the biggest players in the cloud-based customer relationship management (CRM) domain, Salesforce (CRM) provides solutions to bring companies and customers together through its platform. Beginning in a San Francisco apartment in 1999, Salesforce now services over 150,000 companies.
Through its digital workflows, Salesforce aids companies in managing customer information and enhances the quality of interactions. It’s powered through data and its brands Tableau, MuleSoft and Heroku.
On 3 May, Salesforce announced it had been ranked as the #1 CRM provider by the International Data Corporation (IDC) for the ninth consecutive year. Earlier this year, on 11 April, the company featured on Fortune’s 100 Best Companies to Work For list for the 14th time in a row.
The Salesforce stock market price had grown significantly during Covid-19 global lockdowns. The ability to manage teams and businesses remotely was highly sought after, leading to the CRM historical stock price all-time high of $309.96 on 8 November 2021.
However, since then the stock has fallen nearly 40% amid rising interest rates, peaking inflation and global supply chain issues. At the time of writing, CRM stock had last closed at $189.19 on 9 June.
The company released its Q1 financial results for fiscal year 2023 on 31 May, boosting investor confidence in the Salesforce share value. With $7.41bn in revenue, the company achieved a year-over-year (YoY) growth of nearly 25%.
Following a strong start in its first quarter, what does the future of this cloud-based digital advisor look like? Join us as we undertake a fundamental analysis, catch up on the latest CRM stock news and get analyst insights on Salesforce share price forecast.
Salesforce stock fundamental analysis: Q1 financial results
Salesforce quarterly financial results for fiscal 2023 ended 30 April 2022 showcased strong demand across the diverse range of industries and regions it caters to. Its top-line figure of $7.41bn was a 24.32% increase from Q1 FY 2022 figure of $5.96bn. According to data by Refinitiv, Salesforce surpassed analyst revenue expectations of $7.38bn.
Across its two broad categories of revenue generation, subscription and support, and professional services, the former contributed approximately 92% of the overall revenues. Professional services climbed up to $555m from $427m in Q1 FY 2022.
The company’s subscription and support channelcan be segregated to its sales, services, marketing and commerce, platform, and data domains. Of these, services contributed the most to the overall revenue. At $1.8bn in Salesforce service rose by nearly 20% YoY from $1.5bn. The lowest contributor remained through its data domains at $1bn.
At $4.97bn, the American markets had a YoY growth of 21%, followed by the EMEA region with a 33% increase at $1.73bn, while APAC grew by 24% to $702m.
Salesforce’s remaining performance obligation (RPO), grew by 21%. On a constant currency basis, this growth reflects a 24% YoY growth. RPO represents future revenues from future contracts that will drive revenues within the next 12 months of the company’s operating cycle.
Russia’s invasion of Ukraine in February 2022 saw the macro environment turning shaky amid global supply chain issues and rising inflation. Salesforce reported a revenue headwind of nearly $109m YoY due to adverse foreign exchange movements. However, from its core operating business, the performance remained solid, reporting $3.7bn through its operating cash flow for the quarter ended 30 April. The company showcased a 15% growth from the previous year’s $3.2bn for the same quarter.
Salesforce has continually upgraded to offer more than sales and service-related products. Through its data, marketing and commerce platforms, the company’s revenue opportunities, calculated through its total addressable market (TAM), are anticipated to grow to $284bn by 2026.
Salesforce’s bottom-line, however, remained underwhelming. Compared to the same quarter a year ago, net income fell to $28m from $469m. Using Q1 generally accepted accounting principles (GAAP) diluted earning per share (EPS) was $0.03. Non-GAAP diluted EPS of $0.98 beat the Zacks consensus analyst expectations of $0.93.
Salesforce in an ascending triangle.Salesforce - 30d expiry - We look to Buy at 192.32 (stop at 184.98)
The primary trend remains bullish.
Price action has formed a bullish ascending triangle formation.
Trend line support is located at 192.
The bias is to break to the upside.
Trading close to the psychological 200 level.
A break of bespoke resistance at 200, and the move higher is already underway.
This stock has seen good sales growth.
Our profit targets will be 209.48 and 212.48
Resistance: 200 / 205 / 210
Support: 190.50 / 187.31 / 185
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Salesforce ChartPE Ratio over time to help someone with how to use the platform. Is there another way to share a chart you made that doesn't involve publishing? THis is annoying
Bullish break?The stock has recently broken out of a consolidation zone and is poised to begin a fresh uptrend. The company stats are more on the growth side, with Bloomberg analysts predicting that EPS would increase by 36.4% in 2024. Fundamentally and technically, things are looking well; if the final aim of 311.75$ is met, a possible return of 58% might be accomplished. A two-day closing below 193.91 will render the scenario worthless.
Cup and HandleOverbought on standard RSI settings.
Price has broken up from the cup.
Possible stop under handle low.
The cup is 68.03 in depth.
No recommendation.
CRM - approaching neckline @ 195CRM had been basing for about 10 month now (since last May), the first sign that the worst could be over was when it broke above the 200 day movving average on 27 Jan, then a retest of this MA a month later on 27 Feb which validated the 200 day MA as the new "support".
Several days later on 2nd Mar, it gapped up strongly on earnings beat, stopping right at a significant neckline around 195. Then proceeded to pullback and almost closing the entire gap in the coming days. While the stock has been staging a recovery since hitting the low in Dec last year, it also experienced steep pullbacks on the way up. Buying the dips would certainly had been a better option in this chopping conditions.
Despite the volatility, what is clear however is that the stock is still on it's way to recovery, forming higher hi's (HH) and higher lo's (HL), with RSI staying at 50 or higher since early Jan, and a Golden Cross since 10 Mar.
It could attempt to break the neckline @ 195 again in the coming days and if and when it is finally able to break and stay above this level, then we could (hopefully) see more a more steady rise with pullbacks that are less steep (ie within 50% fib retracement of each mini up swing). And the next target could be around 220.
We can "predict" price targets but it is important to manage our risk with trailing stop losses and see what the market gives us.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
