Welcome to our latest Elliott Wave analysis for Salesforce Inc. (CRM). This analysis offers insights into CRM's price movements using Elliott Wave Theory, helping traders identify potential opportunities based on the current trend. We will explore both the daily and 1-hour charts for a thorough understanding of CRM's market behavior.
CRM Elliott Wave Analysis – Trading Lounge Daily Chart
Salesforce Inc. (CRM) Daily Chart Analysis
CRM Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Minor wave 3
Direction: Upside into wave 3
Details: We are observing the possibility that a multi-year correction has concluded, and CRM is now resuming its upward movement. As CRM approaches the $265 level, it is crucial to find support here to sustain the upward trend.
CRM Elliott Wave Technical Analysis – Daily Chart
CRM appears to be resuming its uptrend after what seems to be the completion of a multi-year correction. As CRM advances within Minor wave 3, the price must find support near the $265 mark to maintain this upward momentum. Successfully establishing support at this level would confirm the bullish outlook, indicating that the uptrend remains intact and CRM could continue to rise.
CRM Elliott Wave Analysis – Trading Lounge 1H Chart
Salesforce Inc. (CRM) 1H Chart Analysis
CRM Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave {ii} of 3
Direction: Bottom in wave {ii}
Details: We are looking for a bottom in wave {ii} following a three-wave corrective move after breaking the previous high, which marked the top of wave {i}.
CRM Stock Technical Analysis – 1H Chart
The 1-hour chart suggests that CRM may have completed a corrective wave {ii} within Minor wave 3. This correction appears to have taken the form of a three-wave pattern, typical of corrective phases. After breaking the previous high, which marked the top of wave {i}, CRM now seems ready to resume its upward movement. A confirmed bottom in wave {ii} would indicate that the next phase higher in wave {iii} is likely to begin.
Technical Analyst: Alessio Barretta
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
See Previous: Apple inc. Elliott Wave Technical Analysis
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