that gap tho...this thing got ripped to pieces on that $work news two weeks ago.
$222.68-$236.75 gap fill. see fib levels from 23.6% to 38.2%. i will be waiting to enter to ride the wave back up.
CRM trade ideas
CRM likely test 215 to gap close, buyable on technical reversalCRM has gained 48% this yr or 50 bil market cap into a total of 200 bil. The gain is a small potato compared to the new market darling such as SNOW, DASH, AI and ZM, PTON, ETSY, CHWY. It has the disadvantage of a large flow and low short interest so it's not a cult stock.
So it acted like all mega-caps like AMZN AAPL FB NFLX with large flow and small short interest, it's choppy aimlessly.
It's a stock to consider at money IC or 2 ATR and plus an upside butterfly as it is close at ST support. One is to generate income and the other is to anticipate a bounce but not a huge one, $20 to 30 upside. The range is 220 to 250 where there would be major resistance.
CRM - Salesforce - another leg up after correction?A count suggesting that, while the correction may not yet be over, this US stock may have one more leg in it's present uptrend.
Long Position on CRM?CRM has shown strong support at $220 in the last few trading days and has shown weakness at the $229 wall.
The $228 support that we found in October has subsequently turned into a resistance point.
The following are the three outcomes for CRM stock in the next 3 months:
1. If it smashes $229 resistance, the stock could rally to $240
2. If support at $220 is broken, next support line is $215
3. If $215 support breaks, the stock is likely to trade between $190-$205.
If you are planning to go Long on CRM, do these things:
1. Watch the stock on Friday and see how it plays out. With the vaccine news out, I see it going lower. What you should do is see if it holds $220 support. If $220 holds, buy 25% of what you intend to buy.
3. If $220 support is broken, wait for a pullback to the $215 line and buy another 25%.
4. If $215 breaks, buy the remaining 50% of what you originally intended to buy at $205-$208.
5. Set your stop loss limit at $190. This is a worst case scenario, but it is better to manage risk to the downside, considering the current market conditions.
$CRM Bullish Trade IdeaCRM fell (dramatically) after announcing their Slack acquistion. They're now resting at the bottom of a 4hr channel.
Targets are 240, 250 and eventually 270+
LONG CRMLOOKING TO BUY $235 CALLS JAN 15TH EXPIRATION.
CRM HAS A GAP TO FILL, IS BOUNCING OFF OF SUPPORT IN A FALLING WEDGE , AND BOUNCING OFF OF ANOTHER SUPPORT AREA IT BROKE THROUGH DURING LAST EARNINGS IN AUGUST. $235 TARGET BASED ON GAP FILL, AND LINEAR REGRESSION . WILL ENTER ON 15M BREAK OF RESISTANCE DOWN TREND TRENDLINE W/ VOLUME
Salesforce key levelIf the price down near 200$, it would be an ideal option to buy.
Support zone, 200 days average and Fibonacci level(50%).
Be patient:)
CRM needs to defend this levelCRM back to August pre breakout levels after selling off on news of acquisition of slack. The selloff today was on low volume and considering the sharp drop, I expect Crm to defend the lower channel snd bounce to at least the 0.38 fib level to fill the daily gap before resuming current trend or start a new uptrend. I should have waited for the break of 230 before entering but the idea of scaling into the trade near the lows was to appealing to ignore. The next few sessions will give us a better picture on what tp expect.
$CRM waiting for CRM at 200 level, let's see if it comes there.$CRM waiting for CRM at 200 level, let's see if it comes there.
CRMCRM Perfect buying opportunity.
Recently hit the 3rd standard deviation of the bollinger bands showing oversold
Should recover in the next few weeks to fill the gap at 240
Earnings went excellent but investors not happy about the deal with Slack.
CRM Buy PossibilityAscending Triangle formation.
Watching for a break and hold above VWAP, EMA, and Key level.
Strong confluence for a bullish run. Backed by earnings, and fundamental news.
Vaccines news could help spur overall bullish market sentiment.
Keeping it simple here.
Salesforce - is it correction time? or is slack to heavy...So CRM bought slack in a fairly expensive price and this caused investors to pull out and run -which is good because the stock needed to retrace and retrace the gap area between 220 -250.
let’s focus on technical :
Stock is moving in a downward trend with no lower highs only lower lows which means we are technically not in a downtrend ! the gap from 25th of August was finally filled and now the stock can keep climbing in a safer manner.
the best part is we are seeing the correction from the drop beginning to correct and it fits our Stoch & ATR but most importantly it fits our POC and volume that indicates price should go back up to 250 (which is where the august gap ended - the wonders of volume never stop :))
So, stock needs to climb up to the 250 and make sure you keep in mind the 270$ line resistance that was tested several times and not broken
To sum up, buy position to the 250$ line then we let it correct down for a day or so and jump back in to the 270$ line
please note this trade is a quick one I assume a rise in Monday morning premarket and once market will open, we will already be halfway there so make sure you are in on time
Happy Xmas and trade safe!
Salesforce bought Slack for $27 billion. What next?I think the Salesforce acquisition of Slack was genius. Why? They now have access to all of Slack's clients and companies. They can integrate all Salesforce products into it and go right after them to upsell them Salesforce products. This is a great attempt by Salesforce to keep growing revenues. However, there is more to this story...
Before we get to the bear case, let's dive into one more interesting thing:
Salesforce is officially going after Microsoft and Microsoft is going after Salesforce. Microsoft bought LinkedIn to essentially build its own CRM system for sales and contacts. They saw what Salesforce was trying to do. Now however, Salesforce is flipping the script. Imagine the following:
Slack docs
Slack spreadsheets
Slack video
You name it
They are now going right after Microsoft Word and Excel. Also, to some degree, Google Business Solutions. That's where the bear case begins, however.
This space is extremely competitive now and it's requiring more and more risk. A $27 billion acquisition? Salesforce could not build their own Slack for $27 billion? Salesforce could not find another cheaper company to acquire? Meanwhile companies like Discord are growing fast and coming for Slack.
It seems that Salesforce's recent weakness, and point of this chart that Salesforce will return to its Volume Profile node, is that some long-term investors and holders are slightly weary of the cash spend and M&A mania that Salesforce has been on.
They keep buying, rather than growing organically.
AB = CDCRM broke up from a rising narrowing wedge...
Quite an acheivement as stocks do not break up from a rising wedge often, but it is possible...
Bearish until bottom is found..targets listed for possible journey down but may stop falling at any time. D would be the usual fall but the fib levels can take it lower..
Just an observation
$CRM - GAP FILL$CRM - GAP FILL AFTER INVESTORS DAY AH, EXPECTING A STRONG MOVE ABOVE 230 TO 250 AREA
CRM - accumulateCRM is now 20% off it's August's high after it gapped down upon announcing it is buying Slack. As a buyer, it drags down the stock in the near term but for the longer term, I believe the synergy is good.
Technically, the stock has found support @ 216 (Gap fill) and has quickly rebounded to close right at the 38% fib retracement level @ ~ 220. There is now a confluence of gap fill, 38% fib retracment support and bullish divergence between price and stochastic. Hence I believe the odds of CRM going any lower than 216 is slim.
Looking to accumulate between 220-225 with initial stop just below the recent low at 216. Mid term target of 263-270. I do not expect the stock to roar back to life so quickly however. Will need some patience. :)
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
