Reasons for bullish bias:
- Price gave a small consolidation breakout
- Bullish divergence
Here are the recommended trading levels:
Entry Level(CMP): 283.47
Stop Loss Level: 265.74
Take Profit Level 1: 301.20
Take Profit Level 2: Open
NYSE:CRM
Analyzing Salesforce’s Stock Surge to $298.14
Salesforce, a global leader in cloud-based software, has recently seen its stock price soar to an impressive $298.14. This significant increase is not a random occurrence but the result of a combination of factors that have played out in favor of the company.
Strong Earnings Reports: Salesforce has...
NYSE:CRM Salesforce executives sell shares worth over $17 million in the first week of May 2024. If insiders are selling shouldn't we? 🤔
Price heading towards fib level of $240.
We have pointed our downside price target at the level we expect price to retrace near the Fib level of $240 and the green support line near $242.
Are you shorting?
Negotiations between Salesforce Inc. ( NYSE:CRM ) and Informatica Inc. regarding a potential acquisition have stalled due to the parties' inability to agree on a suitable price. The source, who requested to remain anonymous, disclosed that the matter is confidential.
The Wall Street Journal reported on Sunday that the talks were losing steam, but representatives...
Some of the world's biggest money managers are looking outside the US for the next wave of AI winners.
At a time when global euphoria around AI has caused a three-fold jump in Nvidia Corp. and a 50% jump in a key US index for semiconductor makers in less than a year, investors are turning to emerging markets for better value and a greater range of options.
The...
In a bold strategic maneuver, Salesforce.com ( NYSE:CRM ) finds itself at the precipice of a transformative acquisition, with reports emerging of advanced discussions to acquire data-management software powerhouse Informatica (INFA). As the rumor mill churns and investors brace for potential ripple effects, the landscape of cloud computing and artificial...
Salesforce more than doubled between late 2022 and early 2024. But now some traders may think the provider of marketing software is stalling.
The first pattern on today’s chart is the November 2021 high of $311.75. CRM rallied above that level on March 1 but couldn’t stay there. Such a failed breakout is a potentially bearish reversal pattern.
Second is a trend...
Here's a chart of salesforce on a weekly. As you can see we failed to stay above the 2021 highs here recently. To me the level is 310 that we need to get above, then the next level for me is 424.
Salesforce ( NYSE:CRM ) expanded its stock buyback program by $10 billion and announced a new dividend, but its annual revenue forecast that was below estimates pushed its shares down around 2% in after hours trading.
The company's downbeat forecast signals a likely slowdown in cloud and tech spending as clients struggle with high interest rates and rising...
Strong Revenue Growth: Salesforce’s total revenue for Q2 2024 was $8.603 billion, up from $8.247 billion in Q1 20241. This consistent growth in revenue is a positive sign.
Impressive Earnings Per Share (EPS): The basic earnings per share (EPS) for Q2 2024 was $1.4118, up from $0.7562 in Q1 20241. This significant increase in EPS indicates a strong financial...
If you haven`t bought CRM ahead of the previous earnings:
Then analyzing the options chain and the chart patterns of CRM Salesforce prior to the earnings report this week,
I would consider purchasing the 280usd strike price Puts with
an expiration date of 2024-3-1,
for a premium of approximately $5.15.
If these options prove to be profitable prior to the...
Short term opportunity for a LONG.
Context:
Market: strong
Ticket weekly: Up wave
Ticket daily: Up wave
Ticket 1h: uptrend, consolidation (down wave)
Last day:
Gap-up open, price didn't find much support from buyers and was rejected. Rejection wasn't strong enough (price didn't reach prev day low), which shows lack of strong sellers interest.
Conclusion:...
Key Takeaways:
+Consistently making higher lows after strong uptrend and is forming into rising triangle on flat supply zone for ATH breakout
+Trending above 20d SMA and 20d SMA > 50d SMA > 200d SMA
+I would expect ~$9 move topside after breaking 289 which would send us to 298 & ATHs, based on the height of the rising triangle consolidation pattern
Salesforce has been showing a lot of strength lately and could be poisted to move even higher off this 270 handle. We may need to see more weakness out of the dollar so may need to stay patient. However, we currently believe this may be one of the leaders should equities continue higher over the long run.
Analysts at the Baird brokerage company have upgraded the stock rating for Salesforce Inc. from Neutral to Outperform, setting a target price of 300 USD. They believe the issuer's business has a high margin, and the subsequent introduction of artificial intelligence technologies will increase it. For this reason, Salesforce shares may become attractive for both...
52wk highs breakout closing in, rising RS rating, above 200dma and past 4 Quarterly earnings VWAP, I have reasons to believe this security displays all behaviors of super performance.
