CRM eyes on 212 then 208: earnings dump nearing BUY levels
Updated
Earnings Report caused a massive dump.
Now approaching some key support zones.
The "wait 3 days" rule might bring it to us.
$ 212.34 - 212.34 is the first support below.
$ 207.55 - 208.20 next, a must-hold for bulls.
$ 223.06 - 224.58 is the immediate resistance.
=========================================
Now approaching some key support zones.
The "wait 3 days" rule might bring it to us.
$ 212.34 - 212.34 is the first support below.
$ 207.55 - 208.20 next, a must-hold for bulls.
$ 223.06 - 224.58 is the immediate resistance.
=========================================
Note
We have a bounce EXACTLY where hoped:And that bounce (albeit small) was on a down day for market
.
Zoom in (m1 with some notes:
The bounce got to the local fib above at $217.14
.
Adding a fib to the bounce:
Several "PIngs" (exact ricochets) show fib-compliacne,
and that is the first requirement to a sustainable wave.
Too early to declare a bottom, but a promising bounce.
============================================================================================
.
Note
Those PIngs that promised a sustainable wave:Proved to be valid with a massive follow thru:
So we convert our original "linear" fib (blue stripe) to a "Golden" series (blue+gold)
Which does not show very good fitment after last bounce:
So looking for another "Impulse" we can place another Linear fib
Zoom out a bit and looking above:
First guess of target of this wave is the bue 4.236 at $239.12,
and that is in tight confluence with a Genesis fib at $239.08,
so we can look for that target next, and be very alert if gets there.
============================================================================================
.
Note
1st Guess Target hit! Spiked up at open, right thru our target.
But pulled back to existing fib at 230.25.
Our sell orders at 239 were well placed.
.
Zoomin OUT a bit (m8)
Our exit target of $39 is a major hurdle.
Break and retest would say bottom in.
============================================================================================
.
Trade active
BOOM and DONE (almost)
60% so far and still going :)
I only have a small bag riding up,
but am closing a little more here.
Letting 10% ride with trailing stop
=================================================================
.
==================================================================
.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.