Salesforce Inc. Stocks Elliott Wave Technical Analysis – Wednesday, October 9


CRM Elliott Wave Analysis Trading Lounge Daily Chart,Salesforce Inc., (CRM) Daily ChartCRM Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Minor 3DIRECTION: Upside within 3.DETAILS: As the correction in Primary wave 4 could still no be completed, we are exploring the possibility of a running flat in 4 and consequently we could be in the early stages of a bull market. Salesforce Inc., (CRM) 1H ChartCRM Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave {i} of 3.DIRECTION: Top in wave {i}DETAILS: Looking for a top in wave {i} soon in place as we seem to have a nice subdivision. It’s possible we are actually in a wave C and we will continue the overall larger correction. 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 (CRM) is in the third wave (Minor wave 3) of an impulsive structure. The potential for a Primary wave 4 correction to be ongoing is being explored. This suggests the possibility of a running flat correction forming in wave 4, and that CRM could be in the early stages of a new bull market. If this scenario plays out, the market could continue trending higher following this correction phase.* CRM Elliott Wave Technical Analysis – 1H Chart*On the 1-hour chart, Salesforce is approaching a top in wave {i} of 3, with a clear subdivision visible in the wave structure. However, there is also the possibility that this movement is part of a wave C, meaning the larger corrective phase could still continue. The development of the current wave will confirm whether the correction is over or if more downside is expected before resuming the upward trend.More By This Author:Unlocking ASX Trading Success: Computershare Limited. Stock Analysis & Elliott Wave Technical Forecast – Wednesday, October 9
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