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.
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.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.