Took a small position 2 days ago and staying small until a new uptrend starts on the daily charts. CRM is making lower highs and lower lows in a bullish trend overall making this a healthy breath in this stock so far. There is a daily bullish potential on this.
There is a rejection candle from the highs so this could break down more. The down trend is basing off support (previous resistance) and marginally regained the 12ema on the daily chart. Weekly marginally regained 26ema ( gap down Monday may confirm downside continuation) on decent volume but the closure is only marginal for now. This stock likes to fill gaps up and down in this down trend so fully expect a test of the 50 day ema with a retest of previous resistance.
Weekly resistance break and retesting:
One could argue a monthly bullish flag but we do not full believe these patterns without confirmation:
Daily gap:
There is a rejection candle from the highs so this could break down more. The down trend is basing off support (previous resistance) and marginally regained the 12ema on the daily chart. Weekly marginally regained 26ema ( gap down Monday may confirm downside continuation) on decent volume but the closure is only marginal for now. This stock likes to fill gaps up and down in this down trend so fully expect a test of the 50 day ema with a retest of previous resistance.
Weekly resistance break and retesting:
One could argue a monthly bullish flag but we do not full believe these patterns without confirmation:
Daily gap: