Welcome to our latest Elliott Wave analysis for Salesforce Inc. (CRM). This analysis provides an in-depth look at CRM's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on 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: Primary C
Direction: Downside in wave (3)
Details: Looking for a completion of Primary wave C to unfold in five waves. We could have completed a sharp wave (2) and be resuming lower.
CRM Elliott Wave Technical Analysis – Daily Chart
The daily chart indicates that CRM is expected to complete Primary wave C in a five-wave sequence. It appears that wave (2) was a sharp corrective wave, and the market is now resuming lower in wave (3). Traders should watch for further downside momentum as wave (3) progresses, looking for confirmation through price action and volume.
CRM Elliott Wave Analysis Trading Lounge 4Hr Chart
Salesforce Inc. (CRM) 4H Chart Analysis
CRM Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave 1 of (3)
Direction: Acceleration in wave (3)
Details: We could have found a top in wave C. Looking for confirmation of further downside with a tested resistance on top of $250. It’s possible we will double correct in wave (2), or else we could be in a wave (C) of a complex correction.
CRM Elliott Wave Technical Analysis – 4Hr Chart
The 4-hour chart shows that CRM may have found a top in wave C, indicating the start of a new downward trend. Traders should monitor the market for confirmation of this trend and watch for potential tested resistance around the $250 level.
Technical Analyst: Alessio Barretta
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
See Previous: Apple Inc. (AAPL) Elliott Wave Technical Analysis
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