Market Overview

Salesforce is Losing its Momentum

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Salesforce is Losing its Momentum

Throughout the week we highlighted the Decision Support Engine's (DSE's) evaluation of a number of equities beyond Apple (Nasdaq: AAPL), including Google (Nasdaq: GOOG), Tesla (Nasdaq: TSLA), Salesforce.com (Nasdaq: CRM), etc.. BOOMers have access to all of them and but here is a little peak into Salesforce.com. It has a  perfect, or nearly so, five wave rise from its '04 IPO to current levels. From the '11 low, the wave '5 structure has even formed an ending diagonal triangle, which is the terminal part of a long term trend, according to Elliott.  And, note the lower highs in stochastics vs. the higher highs in price are diverging so far.   Yet, we can't rule out further extensions via the white path yet, so both a blue and white path are shown.  Both arrive at the same turning points for the next few years, after the short term allows some variance.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Short Ideas Markets Trading Ideas

 

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