CRM Elliott Wave Analysis for Salesforce Inc. (CRM)
This analysis delves into the current trend structure of Salesforce Inc. (CRM) by applying the Elliott Wave Theory across both daily and 1-hour charts. Below is an overview of the stock's current position and its potential future trajectory.
CRM Elliott Wave Analysis - TradingLounge Daily Chart
Salesforce Inc. (CRM) Daily Chart Overview
CRM Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Minor 3
Direction: Upside within 3
Details: As the correction in Primary wave 4 might still be incomplete, the possibility of a running flat in wave 4 is being considered. This suggests that Salesforce could be in the early stages of a potential bull market.
CRM Daily Chart Analysis: CRM Elliott Wave Outlook
On the daily chart, Salesforce (CRM) is currently in the third wave (Minor wave 3) of an impulsive structure. Analysts are evaluating whether a Primary wave 4 correction is still unfolding. This points toward a potential running flat correction in wave 4, indicating that CRM might be in the early stages of a new bull market. If this scenario holds true, the stock could see higher trends once the correction phase is completed.
Salesforce Inc Elliott Wave Analysis - TradingLounge 1-Hour Chart
Salesforce Inc. (CRM) 1-Hour Chart Overview
CRM Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave {i} of 3
Direction: Top in wave {i}
Details: A top in wave {i} of 3 could soon form, as a well-defined subdivision is visible. However, it's possible that this move is part of wave C, and the broader correction may still continue.
1-Hour Chart Analysis: CRM Elliott Wave Outlook
On the 1-hour chart, Salesforce is approaching a potential top in wave {i} of 3, with clear subdivisions evident in the wave structure. Alternatively, this movement could belong to wave C, suggesting that the larger corrective phase may not be over yet. How this current wave develops will determine whether the correction has ended or if further downside is anticipated before the stock resumes its upward trend.
Technical Analyst: Alessio Barretta
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