Salesforce (CRM) - Long - Next target is 104.35
Updated
Salesforce (CRM)
Target: 104.35 (based on signal on weekly chart)
Invalidataion point: 92.32 (thick black MA Composite)
Multitimeframe analysis based on RSI, Moving Averages and CFG
M: Up: C > MA's, RSI > 60 (and MA's on RSI)
W) Up: PR TA: 104.35
D) Up: but fragile, just missed PR. RSI just broke above 60
4H) Up: just switched from bear to bull. RSI > 60
Target: 104.35 (based on signal on weekly chart)
Invalidataion point: 92.32 (thick black MA Composite)
Multitimeframe analysis based on RSI, Moving Averages and CFG
M: Up: C > MA's, RSI > 60 (and MA's on RSI)
W) Up: PR TA: 104.35
D) Up: but fragile, just missed PR. RSI just broke above 60
4H) Up: just switched from bear to bull. RSI > 60
Trade active
Short update, still bullish and the target is still 104.35. A new intermediate target is now 99.24. Stronger support came into the market at 96.39 and 94 (thick black MA Composite).Update on different timeframes below:
M: Up: Close is higher than Moving Averages (MA's), RSI > 60 and RIS > MA's.
W) Up: Positive Reversal Target: 104.35
D) Up: Still fragile, confirmation after breaking resistance at 97.71
4H) Up: Steady trend, Positive Reversal Target: 99.24. Supp at 96.39
Trade active
Trend still intact, new target is 116. Expect resistance (and retracement early next week) at 108.80.M: Up: Strong up, no indication of resistance
W) Up: New PR TA: 116
D) Up: Uptrend confirmed on jan 4. Should move through 108.80 (resistance expected), after which 116 becomes new target
4H) Up: Strong uptrend, cooling down expected before uptrend will be resumed.
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