CRM - 10.18% Potential Profit - Uptrend CorridorStrong level of support, confirmed multiple times over the past 5 months in an uptrend corridor.
Price bouncing on the support line.
- Historical Uptrend
- RSI + Stoch (NA)
- MACD (NA)
Suggested Entry $193.73
Suggested Stop Loss $214.69
Target price $189.47
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
SSFO34 trade ideas
Salesforce.com Holds Trend as Earnings ApproachCloud computing has been one of the strongest growth trends in the market this year, and now one of the most important names has pulled back to some interesting levels.
Salesforce.com has followed an upward-sloping trend line since early June, making successively higher highs and higher lows. The two most recent peaks were all-time highs above its pre-crash records. Now it’s pulled back to that trend line.
Second, the current low is very close to the $195.72 level where CRM topped out in February. Has old resistance become new support?
Overall, this is a pretty conventional trend-following setup. It resembles Netflix on June 30 , pulling back to an old high and trend line before earnings. CRM reports on August 25.
Cup and Handle Falling from Rising WedgeEarnings 8-27 AMC Long only after descent from rising wedge pattern is complete
A stock can fall the entire width of the wedge, but I have noticed most do not fall the complete width as of late. Every stock is different
Stop is under handle low
Looks like the stock has started descent from the rising wedge it traveled in from the bottom Like so many stocks in the tech sector have been in for quite a while.
I rarely saw this pattern before the crash, but there have been plenty since then. Rising wedges are usually bearish. Falling wedges can be bullish if the stock breaks up and out and can signal a reversal..ie HSY was in a falling wedge
The stock is close to the handle low at this point and perhaps it will turn back up there..but remains to be seen
Not a recommendation
Good luck!
6th best company to work for- employee satisfactionJust heard about this company and it looks good to continue its uptrend , has a lot of potential for long term .
Had a quick look at the one day and its good to enter now at 186.23
Voted as number 6 in the Fortune top companies to work for in 2020 . Defo worth a bag since happy employees convert into happy balance sheet.
Levels on chart..
(EN) Salesforce Textbook Post-Weekly Shooting StarLook at that, a day has passed and the uptrend settles high following a weekly shooting star. Time to consider the outcome.
Some markets are still profitable. Technology and remote stocks will thrive in this stormy water.
NASDAQ continues chugging upwards into the holiday, however perhaps we are nearing another state of euphoria.
Please share your thoughts about Salesforce. I implore you to share your market sentiment.
TLDR: This good stock. This stock go up. Me buy more rock and club.