$CRM Chart (Per Request)

2021年3月27日

A follower asked about CRM chart, so here it is. Salesforce been in a down sloping parallel channel since September of last year. If you flip to the weekly bars, the pullback looks like a bull flag after a big rally from March 2020 bottom. That said, the decline from the highs is about 30% which is a bit deep to my likings. Also, if you have been following me for a while, this type of trading is not my style.
The stock is trading around the bottom of the channel, so the more probable scenario is a bounce attempt back to the upper channel boundary. A trade could be taken here with a stop below the low from few days ago.