CRM BearishCRM has been trending up since last week and now it looks as though investors are getting ready to take profits.
- Slow Stochastic is curving down at the top of channel
+ Slow Stochastic is at 97
+ RSI overbought
+ MACD shows slight slowing
+ gravestone Doji at the top of uptrend (bearish)
October 19 CRM started to trend downwards around mid-day, so momentum is slowing.
Price Target One: $284.54
Price Target Two: $275.44
CRM trade ideas
10/17/21 CRMSalesforce.com Inc. ( NYSE:CRM )
Sector: Technology services (Packaged Software)
Current Price: $291.66
Breakout price trigger: $284.50 (hold above)
Buy Zone (Top/Bottom Range): $289.80-$275.50
Price Target: $332.00-$335.90 (1st), $418.00-$422.00 (2nd)
Estimated Duration to Target: 110-117d (1st), 335-374d (2nd)
Contract of Interest: $CRM 1/21/22 300c, $CRM 1/20/23 400c
Trade price as of publish date: $12.50/cnt, $9.85/cnt
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 ..