Image Source: Unsplash
 

CRM Elliott Wave Analysis Trading Lounge Daily Chart,

Salesforce Inc.,(CRM) Daily Chart

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 Analysis Trading Lounge 4Hr Chart,

Salesforce Inc., (CRM) 4H Chart

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.

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 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 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.

Technical Analyst : Alessio Barretta

More By This Author:

Elliott Wave Technical Analysis: New Zealand Dollar/U.S. Dollar - Wednesday, July 10
Unlocking ASX Trading Success: Unibail-Rodamco-Westfield
Elliott Wave Analysis: Key Insights For Bitcoin, Ethereum, Bonds, Gold, Silver