$CRM Salesforce is running out of buyers, cash in your chips.The cloud kings have lost their Mojo, investors are starting to look to secure investments, high dividends, utilities,communications and REITs. The smart money is coming to terms with the massive run some of these cloud kings have had and their P/E ratios. Even the chip stocks and semi's offer a much better P/E ratio and provide the actual infrastructure for the data centers. We think its time to take the money of the table in CRM as all indicators are pointing to decline.
CRM trade ideas
CRM Headed HigherPerfect bull flag. Target #1 - $172 Target #2 - $183. However, I'll exit regardless prior to earnings or if there is a reason to sell such as a breakdown. I am long. While I believe this is a great entry point, if not already long, I urge you to do your own research, I do not give investment advise.
CRM: xABCD formation completion, -30% downsidePotential xABCD formation at c.$154 which also happens to be the 78.6% retracement level of the XA leg. If we extrapolate an ABCD down, the downside projection would be c.$106 which coincides with the 2012 uptrend line. If you like MA crosses, CRM is in the throes of a death cross.