Salesforce Pre-Earnings BuyHello Traders!
Salesforce earnings are on its way Dec. 1st.
I feel as though CRM still has room to run towards my two entry points.
Entry #1: I don't want to miss the bullish run so I have a riskier entry here.
Entry #2: This entry will be if I decide to take a less riskier approach if I don't feel like the odds are in my favor at the open.
CRM is approaching the oversold on the RSI so I am waiting to see bearish weakness. Patience its not there yet.
My first price tsrget will be a test of the 50EMA. Then the resistance level at $270. I will be selling my contracts should I decide to enter before earnings are announced.
DISCLAIMER: I am not a financial advisor and all charts posted are for educational purposes only.
FOO trade ideas
CRM - November 29, 2020CRM has engaged in advanced acquisition talks with Slack (WORK) as a strategic defense to increasing competition from Microsoft and Google. Since the news, WORK has soared 39.45% while CRM is down 3.75%. Coming off of a 115% earnings beat last quarter, and current analysts median price targets at 285 (implying 15% upside from Friday close) look for movement early in the week ahead of the earnings release Tuesday AMC.
$CRM Bullish Trade PlanGreen Line - Entry Target
Red Line - Exit Target
Pink Line - Stop-Loss
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CRM - Let's go Some ideas around how CRM could move over the next couple of weeks. Show some support (like) if you agree :)
CRM Signals to go Long:
1) 1 solid breakout confirmation candles out of the wedge formed
2) RSI starting to trend (>50)
3) MACD crossed (3-5 candles back)
Entry : 260+
Exit : 285 or ATH
Salesforce Brakeout NYSE:CRM
Salesforce brakes out of 2,5 month flag pattern supported through upward trendline.
EMA20/50 and SMA200 indicate stable primary and secondary upward trend.
MACD turns positive and indicates strengthening tertiary upward trend.
CRV = 2,83 / Stop Loss at 0.236 FIB / Take Profit at 1.23 FIB
How to use Corrective Structures to develop a SetupGreat day to learn something, today; we will understand how to use corrective structures to develop a setup on any chart.
a) There are 3 types of Corrective Structures, Zig-Zag (first example), Flat (Second Example), Triangles (third example). Use them as an archetype to spot them on a chart.
b) Now that you understand the types of corrective structures is time to look at one on the chart ( you can see a Flag Pattern on the real chart)
c) Should I trade all the corrective structures I see? NO, YOU DONT! You need Context. Your corrective structure must be well-positioned on the chart, it can be a Trendline, or it can be a Support. Never trade isolated patterns.
d) Then you need a clear path in the direction you are expecting. In this case, we are at All-time Highs, so we don't have any Resistance
e) How can I calculate my target? Use Fibonacci Extensions. Draw it from the base of the impulse towards its top (where the corrective structure starts) and then take it back to the impulse's bottom. Pay attention to 2 levels only 1.27 for Break Even, and 1.618 for Target
f) Only take setups with a risk-reward ratio higher than 1.5
Have a Great Day!!!
CRM - Elliottwave analysis - 5th wave upCRM - It is in impulse cycle from Covid low in 4 hr time frame and seems extending gain in 5th wave up. So stay bullish in 2nd subwave correction between 247-240 with stop level below 229.10 for target of new ATH. wait for confirmatory impulse in 5 min time frame before entering the trade.
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Salesforce.com - Potential Bullish PivotHey Traders!
Salesforce.com NYSE:CRM has been on my radar today and according to my studies... CRM is giving off a strong bullish signal according to where the price is relative to the Bollinger bands and Keltner channel. I drew a few dots on the chart above to highlight the areas of interest so you can see what I look at. The Cyan dot is just to locate the price when it is between the lower Bollinger bands and Keltner channel, this is the area where I start paying attention for a bullish trade setup. The Magenta dots are for when the price is between the upper Bollinger bands and Keltner Channel bands and is when I start looking for a bearish trade setup. I use the white dot as an entry signal as price has come back within the Keltner channel. White dots following the cyan dots are bullish entry signals, whereas white dots following magenta dots are bearish entry signals. The entry signals are what I consider to be pivot points where the stock may begin to change direction.
However, this strategy does generate false positive signals from time to time. As an attempt to avoid false entry signals, I take into account the trend of the stock. The stock has been trending upward the last 90 days with a net change of +33% (based on closing price 06/19/2020). Therefore, based on the indicators and trend, my assumption is that CRM could move higher. Ideally, I would like to see CRM reach $260 per share within the next 14 trading days... but who knows what could happen.
Keep in mind: The days surrounding the outcome of the U.S. election, market fluctuations, and unexpected news events can send CRM in an unfavorable direction. This idea is not a call to action, nor should it be considered investment or trading advice. The ideas expressed on our TradingView page are for educational and entertainment purposes only.
Leave us a comment below! - Are you bullish or bearish on Salesforce.com?