Details: We are looking at the possibility of a multi-year long lasting correction is complete, and we are resuming higher. As we approach 265$ we need to find support to continue look for upside.

CRM Elliott Wave technical analysis – Daily chart

CRM appears to be resuming its uptrend following the completion of a potentially multi-year correction. As CRM moves higher within Minor wave 3, it is essential that the price finds support near the $265 level to sustain this upward momentum. The successful establishment of support at this level would provide further confirmation of the bullish scenario, suggesting that the uptrend is intact and that CRM could continue to rise.

CRM Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave {ii} of 3.

Direction: Bottom in wave {ii}.

Details: Looking for a bottom in wave {ii} as we seem to have had a three wave, corrective, move after we broke the previous high which as the top of wave {i}.

CRM Elliott Wave technical analysis – One-hour chart

The 1-hour chart indicates that CRM may have recently completed a corrective wave {ii} within Minor wave 3. This correction appears to have unfolded in a three-wave pattern, typical of corrective moves. After breaking the previous high, which marked the top of wave {i}, CRM now seems poised to resume its upward trajectory. A confirmed bottom in wave {ii} would suggest that the next leg higher in wave {iii} is about to unfold.

Welcome to our latest Elliott Wave analysis for Salesforce Inc. (CRM). This analysis provides insights into CRM's price movements using Elliott Wave Theory, guiding traders through potential opportunities based on the current trend. We will examine both the daily and 1-hour charts for a comprehensive perspective on CRM's market behavior.

Salesforce Inc. (CRM) Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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