Salesforce Inc. (CRM) Elliott Wave Analysis - Trading Lounge Daily Chart
CRM Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Complex
Position: Wave 4 of (3)
Direction: Pullback in Wave 4
Details:
Salesforce Inc. is currently experiencing a potential Wave 4 correction, which seems to be nearing completion. However, it remains uncertain whether this is Wave 4 of (3) or if the stock has transitioned into Wave 1 of (3), indicating greater upside potential. Confirmation of the wave structure will be crucial to determine the next directional move. For now, traders should monitor the completion of the Wave 4 pullback to assess whether it will lead to a continuation in the uptrend (Wave (3)) or lay the foundation for a broader bullish breakout.
CRM Elliott Wave Technical Analysis – Daily Chart
Salesforce's Wave 4 corrective pullback appears close to completion on the daily chart. The current wave structure presents two possibilities: either the correction concludes Wave 4 of (3), continuing the uptrend, or it represents the early stages of Wave 1 of (3), signaling substantial bullish potential ahead. Until wave confirmation is observed, traders should prepare for an imminent resolution of the correction.
Salesforce Inc. (CRM) Elliott Wave Analysis - Trading Lounge 1-Hour Chart
CRM Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Complex
Position: Wave {z} of 4
Direction: Approaching Bottom in Wave 4
Details:
The 1-hour chart analysis indicates a Wave {z} of 4 correction, which is nearing its final stages. The price is approaching the typical correction zone near the previous Wave {iv}, where a bottom could form. A reversal or a pullback higher is expected in the short term, signaling the end of Wave 4 and the potential start of an upward trend.
CRM Elliott Wave Technical Analysis – 1-Hour Chart
The 1-hour timeframe suggests that Salesforce is in the last phase of its Wave {z} of 4 correction. As the price nears the region of the prior Wave {iv}, a bottom is anticipated soon. This corrective phase is likely to conclude with either a reversal or at least a higher pullback, marking the transition to a bullish movement. Traders should closely watch for confirmations signaling the completion of Wave 4 and the onset of an upward trend.
Technical Analyst: Alessio Barretta
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