CRM trade ideas
CRM what s Next ?CRM has reached the first target relative to the last Movement (see My idea : Sales Force : Signal confirmed to Buy 09/19).
Now we begun a correction phase, before to continue to next targets.
For the buyers not yet to enter, we must wait for rebound. May be at 269.26.
If we break this support it’s not good and we must stay outside.
For the sellers the trend is still bullish, but if the chinkou cross the prices it s a signal of weakness.
So let’s see ..
Cup and Handle Rising Wedge Earnings AMC TodayEarnings are today after market close.
CRM is in a rising wedge but has broken up and out of rising wedges in the past without breaking the bottom trendline. The pattern is not valid unless the bottom trendline is broken. Down the road, after the break up from the rising wedge, CRM encountered a deep pull back and did break the bottom trendline of the wedge it blasted out of when inducted in to the DOW. But it was much later when this happened and CRM made a lot of gains before coming back to meet the bottom trendline of that rising wedge. I do not recall if earnings were due when that happened, just have noted sometimes a rising wedge can hurt you at earnings. Not always. Some stocks blast up and out of this pattern. SNPS did recently.
Rising wedges resemble triangles, but both trendlines slope up. The trendlines narrow at the apex creating a vacuum similar to triangles and contracting bollinger bands. Rising wedges interrupt supply and demand and are bearish in the end. But the end can be in the future or it can be any trading day.
The upper resistance line and lower support line converge as the pattern matures. Bearish confirmation of the pattern does not come until the support line is broken in a convincing fashion. While it is a consolidation formation, the loss of upside momentum on each successive high gives the pattern its bearish bias. However, the series of higher highs and higher lows keeps the trend inherently bullish. The final break of support indicates that the forces of supply have finally won out and lower prices are likely. In a strong stock, price usually finds a support level that exists inside the wedge. I have noticed strong stocks do not fall out as far as a weaker stock will.
No recommendation.
Scared money can equal lost money. Be safe.
CRM looks to form double topsCRM is one of the few stocks in my watchlist that has actually had a green week. After revisiting it seems to make sense.
- The stock fell to $252.19 (September 13), touched the 50 EMA ($252.25), and has been trending up since.
+ MACD line looks to cross the signal line
+ RSI is over 50
- Fibonacci retracements has next level of resistance at $277.11
Some of my other stocks I have charted, in the SPY, look to make one more move up and I am expecting a longer down fall. The potential of CRM double tops offer some level of reassurance that my analysis is correct.
CRM Daily TimeframeSNIPER STRATEGY (new version)
It works ALMOST ON ANY CHART.
It produces Weak, Medium and Strong signals based on consisting elements.
NOT ALL TARGETS CAN BE ACHIEVED, let's make that clear.
TARGETS OR ENTRY PRICES ARE STRONG SUPPORT AND RESISTANCE LEVELS.
ENTRY PRICE BLACK COLOR
TARGETS GREEN COLOR
STOP LOSS RED COLOR
DO NOT USE THIS STROTEGY FOR LEVERAGED TRADING.
It will not give you the whole wave like any other strategy out there but it will give you a huge part of the wave.
The BEST TIMEFRAMES for this strategy are Daily, Weekly and Monthly however it can work on any timeframe.
Consider those points and you will have a huge advantage in the market.
There is a lot more about this strategy.
It can predict possible target and also give you almost exact buy or sell time on the spot.
I am developing it even more so stay tuned and start to follow me for more signals and forecasts.
START BELIEVING AND GOOD LUCK
HADIMOZAYAN
$CRM BullCRM closed with a bullish engulfing candle on Friday. It also out performed itself on earnings which is a good sign that this pair will run in the week as well. If it breaks the 4H resistance level I speculate that it will continue to My target profit in the blue box. have to wait on pre market to see how it performs.