Nov. 21 at 2:08 AM
Market Context:
$CRM is currently trading at
$225.62, below its 30-day moving average (MA30) of
$246.88 and 50-day moving average (MA50) of
$245.15, indicating a bearish trend. The RSI of 19.27 suggests that the stock is significantly oversold, which may lead to a potential reversal or bounce.
Directional Bias: Bearish in the short term due to the price being below key moving averages, but the extremely low RSI indicates a potential for a corrective rally.
Suggested Entry: Consider entering a long position around
$225.00, as it is near the 60-day low of
$223.31.
Stop: Place a stop loss at
$220.00 to limit potential losses.
Targets: Set the first target at
$235.00, which is near the recent resistance level, and a second target at
$245.00, approaching the MA50.
This trade plan aims to capitalize on a possible short-term recovery while managing risk effectively.
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