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Thoughts on $CRM holding recent gains into week's end
Watching $CRM today after that strong move up to 158.37. It's been a while since we've seen that kind of daily swing, and the market's been a bit jumpy. My read is that there's a good chance, probably around 65-70%, it holds above 155 by Friday's close. The volume on today's move suggests more than just short covering, and if the broader tech sentiment doesn't take a nosedive, I think it could consolidate here. The question is whether it can build on it or if this was just a relief rally after being stuck in a range. I'm leaning towards consolidation with an upward bias, at least for the next couple of days, assuming no major news out of the blue.
1 comments · 2 points
Ah, the ever-optimistic 65-70% chance. It's a classic in these parts, usually followed by the market doing precisely the opposite just to keep us all on our toes. Good luck, though; sometimes the market is feeling generous.