CRM Long term hold 3 - 6 monthsInvest in good company, I got myself a Leap Debit Call for March since Salesforce is dominating B2B sector
CRM trade ideas
Buy $CRM - PT 1 229, PT 2 236, Breakout 223, SL 215Salesforce has yet to fill the gap caused by the Slack buyout news. My original plan was to play the breakout at 229, but the recent dip has turned that into a short term profit target with a break of 223. Swing traders can buy now and aim for 223 on a medium or long term timeframe.
CRM ideaTook a small position 2 days ago and staying small until a new uptrend starts on the daily charts. CRM is making lower highs and lower lows in a bullish trend overall making this a healthy breath in this stock so far. There is a daily bullish potential on this.
There is a rejection candle from the highs so this could break down more. The down trend is basing off support (previous resistance) and marginally regained the 12ema on the daily chart. Weekly marginally regained 26ema ( gap down Monday may confirm downside continuation) on decent volume but the closure is only marginal for now. This stock likes to fill gaps up and down in this down trend so fully expect a test of the 50 day ema with a retest of previous resistance.
Weekly resistance break and retesting:
One could argue a monthly bullish flag but we do not full believe these patterns without confirmation:
Daily gap:
$CRM Currently oversold. Likely Bullish Run Through Earnings.$CRM Currently is currently oversold. Likely will run through earnings. Great area to enter for a long position.
CRM on track for GrowthTarget of 270 before the March Earnings.
Breakout at 230 level.
Buy More at 220
Stop loss at 210 which would give us a lower low and indicate Down trend
We are currently Trading inside the channel shown
Stay safe :)
CRM Long term Buy around USD 200Sales Force Inc. Long term Buy around USD 200, maximum take profit USD 350.
Gap Fill up Imminent on CRMOn December 2, we saw the gap fill down that many of us were anxiously anticipating, but it looks like it happened a little fast, leaving a gap to fill on the upside.
Since then, following the initial decrease in volume, we can see it back on the rise, an ascending RSI, a double test of support around the 217.86 level, a Dragonfly Doji for Friday, and a negative MACD right on the bullish cross to set up for an interesting week.
Swing trade PT - 238.5
Somebody Hold The CupNah please, allow me. I insist. Somebody gotta hold CRMs cup while she roofs it
Salesforce looks strongCRM 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.
LONG CRM;Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Good time to get into $CRM after the consolidationGood time to get into the consolidated $CRM after the surge caused by the Slack acquisition.
I'll be using 10% of my total funds. and I'll sell the 20% of that (2% of total) just the before the price reaches the old time high at around $276. This will provide some return while I let the rest of my funds ride the next surge which will take us post $400.
$CRM Salesforce Reversal trade opportunities
CRM is looking primed to offer a reversal trade.
3 levels of support have held for 2 weeks.
No insider sells for a few weeks also helps.
Volume resistance gap above.
Targets $230-$232
$238 to Gap Fill resistance.
CRM Breakout Levels with TrendlinesWe can see that CRM is in a good buying area as it broke under the trend lines but still stayed on the positive side of the 208 to 229 level. My levels show over 229.11 has 237.11, will then follow trend line over 248.24 levels and can push towards 260.70. I like this long, currently entered in 1/8 230c @3.60. NYSE:CRM
HUGE bull flag on SalesforceSalesforce, ticker symbol CRM, is down over 20% from its all time high of $276 back in September, now trading at $222. It had experienced an almost 150% run up from its March lows of $132.
On the 1st of December, Salesforce announced it was acquiring Slack, ticker symbol WORK, for $28 billion in which its CEO described the deal as a ‘match made in heaven’. Since the announcement, the price gapped down 8%. Despite the deal having a $28 billion valuation cost, Saleforce has lost $36 billion in valuation because of it. An overreaction, maybe?
Technically, CRM is in a massive bull flag. Bull flags are found in stocks with massive uptrends. It is called a flag as the pattern of consolidation looks like a flag, after a vertical rise in the stock, which looks like a pole. The psychology behind the pattern is that the stock does not fall steeply, instead bulls buy the dips as the stock prints lower, creating the pattern.
CRM is also just above a $220 support level, which it tested and rejected in 6 of the previous 9 trading days – the other 3 days closed above it. Price is also being supported by an upward trend line connecting the March low and the low of the 2nd December, the first trading day after the Slack acquisition announcement.
Price has also filled the gap created by the monster earnings announced on 24th August which caused the stock to sky rocket 25%.
If the price bounces of this trend line and the bottom of the parallel channel to the top of the channel, this would represent up to 15% upside. If the price was to break this channel and continue to retest all time highs, this would be 28% upside
CRM Salesforce. Long the supportWhy 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?
CRM Buy Opportunity, BREAK OUT TOMORROWPossible buy opportunity as Salesforce is in oversold territory and bouncing off an important support trendline, meanwhile breaking a resistance trendline.
