Technical Analysis of Salesforce.
As of the latest close, Salesforce (CRM) is trading at $271.62, up by $1.79 (0.66%). The pre-market data shows a significant drop to $228.03, down by $43.59 (-16.05%). This sharp pre-market decline suggests potential upcoming volatility.
Relative Strength Index (RSI): The RSI value is 39.75, indicating a neutral to slightly oversold condition. This suggests that while the stock is not extremely oversold, it is approaching levels that could attract buyers.
Stochastic %K: At 16.23, the Stochastic %K is neutral, suggesting limited momentum either way.
Commodity Channel Index (CCI): The CCI is at -96.65, also indicating a neutral position.
Average Directional Index (ADX): The ADX is 22.46, indicating a weak trend.
Momentum (10): This is a buy signal with a value of -5.18, indicating short-term bullish momentum.
MACD Level (12, 26): At -2.03, the MACD indicates a sell signal, suggesting bearish momentum.
The majority of moving averages, including the 10-day, 20-day, 30-day, 50-day, and 100-day, suggest a sell signal. The 200-day exponential moving average is a buy at 260.29, indicating long-term support around this level.
Support Levels: S1 at 254.43, S2 at 239.92, and S3 at 196.98.
Resistance Levels: R1 at 297.38, R2 at 325.81, and R3 at 368.76.
Pivot Point: 282.87.
The recent candlestick patterns and Ichimoku Cloud analysis indicate a bearish trend, with the price moving below the cloud and key resistance levels. The RSI and MACD corroborate this bearish sentiment.
Short Position: Enter a short position if the price breaks below the pre-market low of $228.03. Set a stop-loss at $240.00 to limit potential losses. The first target for the short position would be the S2 support level at $239.92, followed by S3 at $196.98 if bearish momentum continues.
Long Position: Consider entering a long position if the stock shows signs of recovery and breaks above the pivot point at $282.87. Set a stop-loss at $275.00. The first target for this long position would be R1 at $297.38, followed by R2 at $325.81.
Salesforce (CRM) is currently showing bearish signals across multiple technical indicators and moving averages. The significant pre-market drop suggests a bearish sentiment that could persist. Traders should look for short opportunities below $228.03 with cautious stop-loss settings, and only consider long positions if there is a definitive break above the pivot point at $282.87. The upcoming earnings report on August 28 could be a catalyst for future price action, so keeping an eye on fundamental developments is crucial.
Relative Strength Index (RSI): The RSI value is 39.75, indicating a neutral to slightly oversold condition. This suggests that while the stock is not extremely oversold, it is approaching levels that could attract buyers.
Stochastic %K: At 16.23, the Stochastic %K is neutral, suggesting limited momentum either way.
Commodity Channel Index (CCI): The CCI is at -96.65, also indicating a neutral position.
Average Directional Index (ADX): The ADX is 22.46, indicating a weak trend.
Momentum (10): This is a buy signal with a value of -5.18, indicating short-term bullish momentum.
MACD Level (12, 26): At -2.03, the MACD indicates a sell signal, suggesting bearish momentum.
The majority of moving averages, including the 10-day, 20-day, 30-day, 50-day, and 100-day, suggest a sell signal. The 200-day exponential moving average is a buy at 260.29, indicating long-term support around this level.
Support Levels: S1 at 254.43, S2 at 239.92, and S3 at 196.98.
Resistance Levels: R1 at 297.38, R2 at 325.81, and R3 at 368.76.
Pivot Point: 282.87.
The recent candlestick patterns and Ichimoku Cloud analysis indicate a bearish trend, with the price moving below the cloud and key resistance levels. The RSI and MACD corroborate this bearish sentiment.
Short Position: Enter a short position if the price breaks below the pre-market low of $228.03. Set a stop-loss at $240.00 to limit potential losses. The first target for the short position would be the S2 support level at $239.92, followed by S3 at $196.98 if bearish momentum continues.
Long Position: Consider entering a long position if the stock shows signs of recovery and breaks above the pivot point at $282.87. Set a stop-loss at $275.00. The first target for this long position would be R1 at $297.38, followed by R2 at $325.81.
Salesforce (CRM) is currently showing bearish signals across multiple technical indicators and moving averages. The significant pre-market drop suggests a bearish sentiment that could persist. Traders should look for short opportunities below $228.03 with cautious stop-loss settings, and only consider long positions if there is a definitive break above the pivot point at $282.87. The upcoming earnings report on August 28 could be a catalyst for future price action, so keeping an eye on fundamental developments is crucial.
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