Trading Plan for CRM (Salesforce)
Technical Analysis & Price Action:
* Current Trend: CRM saw a significant gap-up post-earnings, hitting a high of $378 before retracing slightly. The price is holding above key levels, indicating strength.
* Support Levels: Immediate support at $367. Below this, look for $358 as the next key support. Stronger support resides at $334, the pre-gap consolidation zone.
* Resistance Levels: The primary resistance is $378, today's high. A breakout above this level could push CRM toward $385-$390.
Liquidity Zones & Order Blocks:
* Liquidity Zone: The $358-$367 range is critical, where buying interest remains strong. Watch this zone for potential re-entry.
* Order Block: The zone around $367-$370 shows signs of institutional interest. If CRM holds above $367, bullish momentum is likely to persist.
Scalping Gameplan:
1. Entry for Scalping:
* Long Entry: Above $378 on volume, targeting $380-$385.
* Short Entry: Below $367, targeting $360-$358.
2. Stop Loss: For long positions, set a stop-loss at $367; for shorts, set it above $370.
3. Exit Targets: For longs, partial profit at $380 and final exit near $385. For shorts, aim for $360 and reassess near $358.
Swing Trade Strategy:
* Bullish Setup: Enter long above $378 with a daily close confirmation, targeting $385-$390. Place stop-loss at $367.
* Bearish Setup: A break below $358 opens a swing short opportunity, targeting $350 and $334.
Suggestions & Projections:
* CRM has strong bullish momentum following its earnings release, but it is nearing overbought levels on intraday charts. A breakout above $378 could extend gains, but a failure to hold $367 may lead to a pullback.
* Monitor volume closely to validate the breakout or breakdown.
Thoughts:
* CRM offers an excellent scalping opportunity around the $367-$378 range. Swing traders should wait for a confirmed breakout or breakdown for cleaner entries.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always perform your due diligence and trade responsibly.
Technical Analysis & Price Action:
* Current Trend: CRM saw a significant gap-up post-earnings, hitting a high of $378 before retracing slightly. The price is holding above key levels, indicating strength.
* Support Levels: Immediate support at $367. Below this, look for $358 as the next key support. Stronger support resides at $334, the pre-gap consolidation zone.
* Resistance Levels: The primary resistance is $378, today's high. A breakout above this level could push CRM toward $385-$390.
Liquidity Zones & Order Blocks:
* Liquidity Zone: The $358-$367 range is critical, where buying interest remains strong. Watch this zone for potential re-entry.
* Order Block: The zone around $367-$370 shows signs of institutional interest. If CRM holds above $367, bullish momentum is likely to persist.
Scalping Gameplan:
1. Entry for Scalping:
* Long Entry: Above $378 on volume, targeting $380-$385.
* Short Entry: Below $367, targeting $360-$358.
2. Stop Loss: For long positions, set a stop-loss at $367; for shorts, set it above $370.
3. Exit Targets: For longs, partial profit at $380 and final exit near $385. For shorts, aim for $360 and reassess near $358.
Swing Trade Strategy:
* Bullish Setup: Enter long above $378 with a daily close confirmation, targeting $385-$390. Place stop-loss at $367.
* Bearish Setup: A break below $358 opens a swing short opportunity, targeting $350 and $334.
Suggestions & Projections:
* CRM has strong bullish momentum following its earnings release, but it is nearing overbought levels on intraday charts. A breakout above $378 could extend gains, but a failure to hold $367 may lead to a pullback.
* Monitor volume closely to validate the breakout or breakdown.
Thoughts:
* CRM offers an excellent scalping opportunity around the $367-$378 range. Swing traders should wait for a confirmed breakout or breakdown for cleaner entries.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always perform your due diligence and trade responsibly.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.