Salesforce (CRM) – Bullish Setup AnalysisWeekly Chart – Cup and Handle Formation
• The stock has formed a classic cup and handle pattern on the weekly timeframe.
• Moving Averages (20 & 150) are trending upwards, supporting bullish momentum.
• After breaking out, CRM retested the breakout level as support and is now showing signs of continuation.
• The potential long-term target stands at +60% upside, aligning with the measured move projection.
Daily Chart – Consolidation & Breakout Retest
• The stock is currently trading within a converging channel, stabilizing near the breakout level.
• A wick rejection at the breakout price suggests strong demand at this level.
• Stochastic oscillator is turning upwards, indicating the start of a potential bullish cycle.
Final Thoughts
If momentum continues, CRM has the potential for a strong bullish move. Watching for confirmation and volume increase on continuation.
What’s your take on this setup? Let me know in the comments!