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Todays Big Stock Wealthpop News

Does The Head And Shoulders On Salesforce (CRM) Mean Lower Prices Ahead?


After yesterday, the market isn’t looking all that strong. The pull back we have warned about finally took place and there’s no real telling if the selling is through. With that selling, there are a lot of bearish trades that are forming in the wake of the market tumble.

One of the best set ups we have found this far comes from Salesforce (CRM) after forming one of the most bearish chart patterns there is, a head and shoulders. Now, the price has a very important support to hold, otherwise, there is a steep decline in the cards for the stock.

Not only is this pattern coming into play for the stock, but we have a whole psych number acting as support that is not too far off at the moment. A break of this would surely mean lower prices are ahead and we could see a drop all the way down to 190 if selling pressure was to pick up again.

Check out the video below for the full video breakdown and see if this trade fits your plan and edge to trade. If nothing else, be sure to keep it on your watchlist as the week wraps up.

Learn to find these levels for yourself when you join The Profit Machine. There, you’ll learn all about my favorite stocks, setups, strategies, and plenty more. You’ll also be invited to weekly webinars where I answer questions and go over important trading lessons, like the one in today’s article. The best part, you’ll also receive live trade alerts. Not only will you get a world-class education, but you’ll earn while you learn.

Get a jump start on your options education and put yourself in position to win in 2023. Sign up today! Until then…

Good Luck With Your Trading!

Christian Tharp, CMT

Christian Tharp

I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group. My Chartered Market Technician (CMT) designation substantiates me as an expert in areas such as the technical analysis of stock trends, market indicators, cycles, price patterns, Elliot Wave principles, Candlestick charting, analyzing financial trends and behaviors, portfolio strategies, and forecasting future price movements. With my straightforward approach to simple, systematic trading, students learn how to strategically assess buy signals and market entry timing, establishment and management of stop losses, and how to employ a simple and disciplined trading approach that creates profits.

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