CRM
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.
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 :)
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
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
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.
$CRM - Calls Above ~ 229.6 Salesforce took a pretty big hit after announcing the WORK (slack) buyout. It's clear the price has stabilized and is looking to climb again. My favourite ETF, ARKK has also purchased a bunch of CRM at this bargain price. I'm looking to takes calls or buy shares when the price closes above the 229.6 region, which seems to be where the accumulation wall is. I'm targeting to fill just below the gap at around 236.
CRM likely test 215 to gap close, buyable on technical reversalCRM has gained 48% this yr or 50 bil market cap into a total of 200 bil. The gain is a small potato compared to the new market darling such as SNOW, DASH, AI and ZM, PTON, ETSY, CHWY. It has the disadvantage of a large flow and low short interest so it's not a cult stock.
So it acted like all mega-caps like AMZN AAPL FB NFLX with large flow and small short interest, it's choppy aimlessly.
It's a stock to consider at money IC or 2 ATR and plus an upside butterfly as it is close at ST support. One is to generate income and the other is to anticipate a bounce but not a huge one, $20 to 30 upside. The range is 220 to 250 where there would be major resistance.
Long Position on CRM?CRM has shown strong support at $220 in the last few trading days and has shown weakness at the $229 wall.
The $228 support that we found in October has subsequently turned into a resistance point.
The following are the three outcomes for CRM stock in the next 3 months:
1. If it smashes $229 resistance, the stock could rally to $240
2. If support at $220 is broken, next support line is $215
3. If $215 support breaks, the stock is likely to trade between $190-$205.
If you are planning to go Long on CRM, do these things:
1. Watch the stock on Friday and see how it plays out. With the vaccine news out, I see it going lower. What you should do is see if it holds $220 support. If $220 holds, buy 25% of what you intend to buy.
3. If $220 support is broken, wait for a pullback to the $215 line and buy another 25%.
4. If $215 breaks, buy the remaining 50% of what you originally intended to buy at $205-$208.
5. Set your stop loss limit at $190. This is a worst case scenario, but it is better to manage risk to the downside, considering the current market conditions.
$CRM waiting for CRM at 200 level, let's see if it comes there.$CRM waiting for CRM at 200 level, let's see if it comes there.
