CRM
SPY $381: could push to $383+ as CMF & Momentum remain strongI was wrong in calling corrections at 370 (of SPY), looking back, at the time STOCH/RSI still pointed upwards and CMF was very positive and still is.
Where do we go from here? Based on the trend line and momentums (RSI still has room) and squeeze is yet to fully fire to upside, I could see we continue to push higher to at least 383+ possible 385. It is however likely short-lived so the strategy remains the same: prepare for a correction with Cheap Put Butterfly.
Jan 29 Put Butterfly 375/360/345
Feb Put Butterfly 375/360/345
Much that I like to call a correction after a long extended rally, I am mindful of the fact that money supplies have grown so much in the past few years and there are no easy investment alternatives elsewhere (bonds, Golds, and TLT all-seeing huge money outflow, and into equity). So the tide goes up with the ocean wave. After all, Equity is the place to be.
I would not be hugely short but mindful of the fact corrections are inevitable so be conservative until better entry arrives. If and when corrections occur, my shopping list would be TWTR, CRM, BB, PFE, FDX, COST, HD, and obviously the monopolies that continue to print money and control our lives: GOOGL AMZN, AAPL, and SPY as a proxy for the market which yields better than the treasury.
CRM Long Bullish Divergence & 200 EMA SupportI think the title explains it well enough. Seems like reasonable support with some bullish divergence on the RSI.
Happy trading!
$CRM doing not much, I think it is waiting for next earningComing earning will show good or bad side of Slack deal.
CRM Double BottomLooking for a continuation of this double bottom that formed today on CRM, potential gap fill play upside to 246.
Salesforce - more weakness ahead?NYSE:CRM is another vulnerable short opportunity with promising entry right now. Expensive stock with market cap above $200 bln, P/E > 100 and P/S >10, which topped exactly after being added to Dow Jones in late August and trending down since then on poor relative strength.
CRM Gap Filling$CRM has been in a strong and healthy uptrend since April, gapped up in August and hit all time high $284.5. The stock pulled back and filled the gap down and is currently at support level and had formed a pin bar on that level with decent volume. Currently looking out for a possible bounce at this support level and then open position for a nice swing play with $233 as profit target (next resistance level before the big move).
PS: NOT A FINANCIAL ADVISOR, MAKE SURE YOU MAKE YOUR OWN RESEARCH BEFORE TAKING ANY FINANCIAL INVESTMENT DECISIONS. THIS IS MY OWN IDEA AND PERSONAL ANALYSIS.
CRM Gap Filling$CRM has been in a strong and healthy uptrend since April, gapped up in August and hit all time high $284.5. The stock pulled back and filled the gap down and is currently at support level and had formed a pin bar on that level with decent volume. Currently looking out for a possible bounce at this support level and then open position for a nice swing play with $233 as profit target (next resistance level before the big move).
PS: NOT A FINANCIAL, MAKE SURE YOU MAKE YOUR OWN RESEARCH BEFORE TAKING ANY FINANCIAL INVESTMENT DECISIONS. THIS IS MY OWN IDEA AND PERSONAL ANALYSIS.
CRM SALESFORCE target price at $186.92 -16%SALESFORCE.COM activated a double bottom pattern with a potential target price at $186.92 -16% from current price. This would fall inside the fibo zone of the last impulse so if the price makes a bullish structure it would be a good opportunity for a potential second impulse.
CRM has more uptrend CRM seems to already found the bottom. It is right at the trend line support for more upside. Looking for entry above 227 if it can hold above 227 in this week. SL under 223.
Trade idea: Jan 15 240C @2.6
Is it time to take another shot?We were burned holding CRM into earnings but price seems to be reversing back into the previous range. As long as it holds the 215 area, net volume trends higher, and the overall market holds up CRM could regain those earnings losses
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.
