SalesforceShort
10% December slide for Salesforce (CRM)
Despite raised guidance, we see a 10% correction ahead for Salesforce. This doesn't mean it won't experience a next leg up. Near-term short opportunity! Wave 5 ending and overbought. The stock's rapid ascent may have led to overvaluation, making it susceptible to a pullback as investors take profits.
We see a 10% reversal to the $320 price range this December.
Keep your charts clean and easy to understand.
Your strategy should look for easy-to-identify repeating patterns.
Be alert.
Trade green.
Note
DECEMBER 09 UPDATE
2 red 8h candles since the Dec 04 gap up.
That's a near 5% drop since the high from that pop.
We see this continuing to move down, filling the gap down to at least the $330 area, and possibly more to the $320 range as discussed in our initial prediction.
Quick shorts are enjoying a near 10/share drop since our post.
Be alert.
Trade green.
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.