Nov. 22 at 1:42 AM
Trade Plan for
$CRM:
Market Context:
$CRM closed at
$227.11, significantly below its 30-day moving average (MA30) of
$246.38 and 50-day moving average (MA50) of
$244.83, indicating bearish sentiment. The RSI at 20.32 suggests that the stock is oversold, which may lead to a potential reversal or bounce.
Directional Bias: Bearish in the short term due to the price being below both MAs. However, the extreme RSI indicates a potential for a corrective rally.
Suggested Entry: Consider entering a long position around
$227.50, slightly above the last close to confirm buying interest.
Stop: Set a stop loss at
$221.50, just below the 60-day low of
$221.96 to manage risk.
Targets: First target at
$240, near the MA50, and a second target at
$250, aligning with the MA30.
This plan leverages the oversold condition while acknowledging the prevailing bearish trend.
https://privateprofiteers.com
