CRM - possible long swing trade as $SPX pushes higherSalesforce has twice before made strong 100% moves, after breaking of 2+ years of sideways range consolidations. These moves coincided with the $SPX breaking out higher in 2012 and late 2016.
Watching for a CRM monthly close above $165.35 and hold above that level for possible start of third run up. Another equal 100% move target would be just above $330.
FOO trade ideas
CRM - SALESFORCE - SHORT SETUP USING PUTSMETHOD: Short SALESFORCE {price at entry 156.40} via :
+2 CRM 20 DEC 19 160 PUT @4.40 ; Trading with 0.75 of extrinsic value, well in the money.
STRATEGIES: Using CRM day chart :
The 20/50 Mean started a crossing downward pattern, and we can look for a new red cloud to form for a short.
The Fisher Transform bounce signal has failed and is now showing a continuation short near a critical support price.
TACTICS: The plan in terms of stock price :
STOP is price > 160
TGT1 153 scale; TGT2 148.75 to exit
Trail option price to Break Even once stock price < 154; OR consider scaling as red cloud becomes large
You may let the Fisher Transform and 20/50 mean together take you out technically for whatever you get win or lose.
Will update in comments,
B3
d^.^b
$CRM Bearish pattern targeting 151.8-145.5 Showing identical topCRM dropped almost 5% from recent top (166.3) to (154.5) But still showing more weakness with indicators suggested further decline to 151.8 then bounce or continue drop to 145.5 (correction by 10%) then starts brand new uptrend from there but for now remain bearish targeting new support . Best short entry from 161
CRM on strong resistance but watch out for earnings report!SHORT - CRM
SL: 166.46 (Suggested by our algorithmic system)
TP: 156.15 (Suggested by our algorithmic system)
Reasons behind this idea:
1. Bearish divergence on OBV, Accumulation/Distribution and MACD
2. Price on strong resistance level
CAUTION: Earning report is due in a few days!
---------- Chart Drawings ----------
Blue Dotted Line: Broken Support Trendline
Red Dotted Line: Broken Resistance Trendline
Blue Solid Line: Support Trendline
Red Solid Line: Resistance Trendline
Blue Rectangle Box: Support Level
Red Rectangle Box: Resistance Level
Blue Arrow Line: Bullish Divergence
Red Arrow Line: Bearish Divergence
Purple Vertical Line: Suggested Stoploss by our algorithmic system
Green Vertical Line: Suggested Stoploss by our algorithmic system
Trade idea from our mobile app: ibb.co (Timestamp is in Australian Sydney Time UTC+7)
Please trade responsibly and good luck!
Salesforce uncertainty pre earnings Earnings approach tomorrow in what is a very poor start to the month in the markets, CRM carries a lot of weight into those earnings with the lofty P/E ratio and investors may very well question the CEO's quest for morals over profit. All very well if you can afford it.
The stock has rolled over recently having failed to take out the old time high, a break to highs is a much better region to look for entry rather than this level between resistance and support.
Company profile
salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform. The firm also provides guidance, support, training, and advisory services. The company was founded by Marc Russell Benioff, Parker Harris, David Moellenhoff, and Frank Dominguez in February 1999 and is headquartered in San Francisco, CA.
CRMHi Traders,
I'd like to introduce the System T, a computerized system that analyzed and back-tested the 20 years history data of over 100 markets.
This post is my sharing of how I think about systematic trading and the signals generated by the System T.
(This is my opinion only, NOT the financial advice.)
I think that for the system to open a trade and manage risk, it only needs a buy signal & a stop-loss signal clearly on the chart.
Once the system finds a good trend, it will ride it as long as possible. The stop-loss will be adjusted accordingly to the new price movement.
(Remember to follow this trade idea and follow my profile to get updates about the stop-loss adjustment and sell signal based on the latest price and market conditions daily.)
System T performances result in the bottom will give you an idea of how it performs in the last 20 years.
Notice that this result was achieved only if I strictly followed the rule: "Only and Always Buy & Sell based on the System Signals".
Don't sell when there is no sell signal as we all want to follow the good trends til the end like everything in life does. \(^-^)/
Also, my system is extremely diversified through over 100 markets so that it only risks less than -1% of the total capital per trade.
Thank you and good luck!
---
System T Performances: Annual Compound Profit 40%, Win Rate 55%, Risk Reward 2:1, 20 Years of Backtesting Data.
* Click Like and Follow to Support My Work!
DISCLAIMER:
I am NOT a financial advisor, and nothing I say is meant to be a recommendation to buy or sell any financial instrument.
My views are general in nature and I am not giving financial advice. You should not take my opinion as financial advice. This is my opinion only.
Do your own due diligence, and take 100% responsibility for your financial decisions.
Trading and investing are risky! Don't invest money you can't afford to lose, because many traders and investors lose money. There are no guarantees or certainties in trading.
- Content is for education purposes only, not investment advice.
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CRM to bounce off from supportI identified an opportunity in the slowly falling channel. The candle is currently located near support, and has a high chance to bounce. The market started off pretty good as bull dominates the market. I entered into the position to test the idea. The RSI is a bit higher compare to previous candle located at support. #realtrade
Option Traders bet big on Salesforce.The cloud stocks have all fallen out of favour as a result of what is considered high valuations, there has been a obvious rotation inot value rather than growth, CRM has been hit like all others. Despite this todays action in the options markets are extremely bullish with enormous call options traded with a $170 strike price.
Technically the chart is hitting heavy resistance, with convergence of Fib and downtrend resistance.
Indicators are bullish but a high volume trading session is needed to break the aforementioned resistance level.
Good R/R trade entry level $157.50 Target price $170
Average price target $187 Very achievable by year end, if the cloud stocks get their mojo back.
P/e ratio 128 - Very high but historically it has been forgiven
Company profile
Salesforce.com, inc. engages in the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and salesforce platform. The firm also provides guidance, support, training, and advisory services. The company was founded by Marc Russell Benioff, Parker Harris, David Moellenhoff, and Frank Dominguez in February 1999 and is headquartered in San Francisco, CA.