SSSALESFORCE INC CEDEAR EACH 18 REP 1 COM USD0.001
17,300ARSD
+225+1.32%
As of today at 17:23 GMT
ARS
No trades
CRM trade ideas
Long cloud Play CRMAs long as this does not break the channel and spy stays above 300 i am going long with 180 calls Or spreads...we are heading to test the 618 in the next 30 days. Waiting to Load up on June 26 180/185 bull spreads. Opposite this if channel breaks. Cloud plays getting attention on Cramer and CNBC.
Salesforce.com: Another Software Name, Another Bullish TriangleSoftware has been one of the strongest industry groups lately as investors view it as largely immune to Covid-19. On Tuesday we highlighted Microsoft’s bullish triangle , and today another major player has a similar pattern.
Salesforce.com is pushing against the $165 area that held it in check last year (flagged in this idea ). CRM has also made a series of higher lows since getting slammed lower back on April 21. The 50-day simple moving average (SMA) was providing resistance at that time, but now the stock is fighting past that line in the sand.
CRM has also managed to get back above its 200-day SMA in the process.
Traders may want to use the April high of $165.30 as an entry trigger.
CRM Bullish (ER Run Up)Symmetrical Triangle + Bullish Channel (Time Frame Confluence) + Momentum
I'm expecting CRM to continue in the bullish channel up to a price target of 189.98 (Supply Zone) before seeing a big pullback. No loss of bullish momentum yet but will wait for a break above 180 before entering Long.
Bullish above cloudsThe stock has just broken above the upper boundary of a rising wedge pattern and the 61.8% retracement level between Feb 2020 high (Point A) and Mar 2020 low (Point B) with a bullish candle. The Lightning cloud has crossed above the Thunder cloud and is heading upwards with narrow shape, indicating that the short-term upward momentum is getting stronger. On the other hand, the future Thunder cloud has already twisted to bullish (with yellow color now).
The daily RSI stands firmly above its neutrality level at 50% and is heading upwards. The MACD is above its signal line and 0-level, while the MACD histogram is broadening.
In these perspectives, we are positive with stock and expect it to go further upside towards $178.50 in coming sessions.
CRMBased on my analysis,
1. Double bottom pattern for CRM is valid and completed with high volume than average.
2. Right now, price will pull back because at strong resistance and formed tweezer bottom.
3. I advise to entry at range 165-166 USD (because of between neckline price & 0.618 fibo retrace) and take 1st profit at 183 USD and 193 for 2nd take profit.
Syeikh Hafiz
Stock Market Analyst
