CRM Elliott Wave Analysis Trading LoungeSalesforce Inc., (CRM) Daily ChartCRM Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Minute wave {iii}.DIRECTION: Upside in wave {iii}.DETAILS: We are looking at the possibility of a significant bottom in place right above 200$, and we are now looking for upside within wave 3. 
Salesforce Inc., (CRM) 1H ChartCRM Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave {i} of 3.DIRECTION: Top in wave {i}.DETAILS: Looking for a top in wave {i} of 3 as RSI seems also to be suggesting. As we approach TradingLevel3 at 300$, we could expect a bounce back to then find a ClassicTradingLevelPAttern across 300$ to continue with the upside move. 
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) has potentially established a significant bottom above $200, and the current structure suggests that we are in the early stages of wave {iii}. This wave should be part of a larger impulsive structure, indicating further upside potential as wave 3 develops.* CRM Elliott Wave Technical Analysis – 1H Chart*On the 1-hour chart, Salesforce appears to be nearing the completion of wave {i} of 3. The Relative Strength Index (RSI) is showing signs of overextension, suggesting that a short-term top may be forming as the price approaches TradingLevel3 at $300. A retracement from this level is likely, forming a ClassicTradingLevelPattern, before the market resumes its upward trend within wave {iii} of 3.More By This Author:Elliott Wave Technical Analysis: Australian Dollar/Japanese Yen – Wednesday, Oct. 23
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