Salesforce.com: “Buy Zone” Detected

Major rallies in major tech… July 01, 2020 UNSUBSCRIBE |ARCHIVE Is It Possible To Retire in 100 Days or Less? Sick of your job or current occupation? Want a new life but don’t have the income to start over? While it’s still relatively unknown, this lucrative “side hustle” could be your way out. You can earn your first passive income check in as little as two days. That’s just one of hundreds of retirement secrets you’ll find inside the ULTIMATE RETIREMENT KIT. Click here to learn how to claim yours today. Salesforce.com: "Buy Zone" Detected Dear Chart Of The Day Reader, Yesterday, we looked at a daily price chart of MarketAxess Holdings Inc. noting the stock’s 50-Day EMA is trading above the 100-Day EMA, signaling a bullish trend. Today’s Chart of the Day is a Keltner Channel Chart for Salesforce.com, Inc. (NYSE: CRM). Salesforce.com is the market and technology leader in on-demand business services. The company's Salesforce suite of on-demand CRM applications allows customers to manage and share all of their sales, support, marketing, and partner information on-demand. The Salesforce Platform – the world's first on-demand platform – enables customers, developers, and partners to build powerful new on-demand applications that extend beyond CRM to deliver the benefits of multi-tenancy and The Business Web across the enterprise.  Now, the Keltner Channels serve as an overbought/oversold indicator. When the daily stock price is trading above the Upper Channel, it signals that the stock is overbought. When a stock becomes overbought, it normally declines in price as the inevitable profit taking occurs. As such, stocks in a price uptrend do not advance in a straight line. There are always price retracements along the way. Below is a daily price chart for Salesforce.com, Inc. along with the three Keltner Channels (Upper, Middle, and Lower). The CRM daily price chart shows that CRM is in a strong price uptrend and recently became overbought many times as the stock traded above the Upper Keltner Channel (circled in blue). As you can see, after trading above the Upper Channel in all scenarios, CRM experienced a pullback. Yet in all cases where CRM experienced the pullbacks, the stock always continued to rally afterwards. If you want to participate in this rally, where is the best place to enter? We use the Keltner Channels to help us select a lower-risk entry point. A Keltner Channel “Buy Zone” occurs when a stock is trading below the Upper Keltner Channel. Once the daily price is trading below the Upper Channel, it signals a buying opportunity. If you had purchased CRM shares when CRM entered the “Buy Zone” around May 14, you’d be up 12.3% on the stock by now. Knowing that CRM shares are continuing to rise, experience pullbacks, and rally again, we’ll be paying attention to future pullbacks in order to get in at the lowest entry point. Best Regards, Chuck Hughes Editor, Chart Of The Day WARNING: Do NOT read this if you think Biden will win the election This is not going to make for pretty reading if you believe Biden will win the election in November.   But if you think Trump will win…   And you want to discover how to make a small fortune when he does…   Read this as soon as you can. If you are having trouble receiving your Chart Of The Day subscription, you can ensure its arrival in your mailbox by whitelisting Chart Of The Day. © 2020 by Chart Of The Day. All rights reserved. This newsletter may only be used pursuant to the subscription agreement, and any reproduction, copying or redistribution (electronic or otherwise, including on the World Wide Web), in whole or in part, is strictly prohibited without the express written permission of Laissez Faire Books LLC, 808 Saint Paul Street, Baltimore, MD 21202-2406. To end your Chart Of The Day e-mail subscription and associated external offers sent from Chart Of The Day, click here to unsubscribe. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. If legal advice or any type of assistance is needed, please seek the services of a competent professional. This material, produced by Chart Of The Day, is for informational purposes only. All technical information, instruction, and advice, reflect the beliefs of Chart Of The Day and are intended as informational only. Chart Of The Day is committed to protecting and respecting your privacy. We do not rent or share your email address. By submitting your email address, you consent to Laissez Faire delivering daily email issues and advertisements. Please read our Privacy Statement. EMAIL REFERENCE ID: 401CODED01