CRM Elliott Wave Analysis Trading Lounge

Salesforce Inc. (CRM) Daily Chart

CRM Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Minor 3

DIRECTION: Upside within 3.

DETAILS: Looking for the impulsive structure to unfold into all time highs as we have broken through Trading Level 3 at 300$ and we are now back at ATH.

Salesforce Inc. (CRM) 1H Chart

CRM Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave (iv) of {iii}.

DIRECTION: Bottom in wave (iv).

DETAILS: Looking for a top in wave (iii) potentially in place, as we seem to be trading around 2.618 wave (iii) vs. (i). Looking for 350$ as the next minimum resistance target for wave (v).

This analysis focuses on the current trend structure of Salesforce Inc., (CRM) utilizing the Elliott Wave Theory on both the daily and 1-hour charts. Below is a breakdown of the stock's position and potential future movements.

* CRM Elliott Wave Technical Analysis – Daily Chart*

On the daily chart, Salesforce appears to be in Minor wave 3, with a bullish impulsive structure developing. Having broken through the significant TradingLevel 3 at $300, the stock is now approaching all-time highs (ATH). This suggests that wave 3 has more room to the upside, and the structure is expected to continue unfolding towards new highs.

* CRM Elliott Wave Technical Analysis – 1H Chart*

On the 1-hour chart, CRM seems to be in wave (iv) of {iii}. There is a possibility that wave (iii) may have topped out, as the price is trading near the 2.618 Fibonacci extension of wave (i) vs. (iii). After wave (iv) completes, the focus will shift towards a potential move higher in wave (v), with $350 being a key resistance target for the completion of wave (v).

Technical Analyst : Alessio Barretta

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