CRM +10% In 2 Weeks After Our Alert

by Mike Paulenoff
April 11, 2021 • 8:04 PM EDT
On March 30, with Salesforce.com (CRM) trading at 210.95, Mike Paulenoff wrote MPTrader members:
"The relentless stair-step decline within the Sep.-Mar. down-channel is nearing completion ahead of my expectation of a powerful upleg that revisits and takes out the ATH at 284.87."
Fast-forward to last Thursday afternoon, April 8, when CRM finally received some long-awaited price support from Wall Street. BofA included the stock in its new "4M Framework" for identifying winning stocks in top server and enterprise software businesses, giving it Buy rating with a $275 price target.
CRM was trading at around 225.40 at the time of BofA's report, and Mike highlighted the 226.58 level (its down-sloping DMA) as key resistance it needed to get through in a follow-up post on Friday.
CRM blasted above its 200 DMA at 226.58, closing Friday at 231.28, and is poised for a run at its dominant multi-month resistance line, now in the vicinity of 239.20.
CRM has climbed nearly 10% from Mike's March 30 post.
What's next for CRM as The Street enters into a new quarterly earnings season this coming week? Will it challenge and take out its dominant September-April down trendline, and thereafter play catch-up with the overall technology sector?
Join us at MPTrader for Mike's technical set-ups, fundamental and technical discussions about individual stocks, macro indices, ETFs, precious metals, crypto currencies, and more.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international
markets, plus key ETF component stocks in sectors like technology, mining, and banking.
Sign up for a Free 7-day Trial!
Last Wednesday afternoon (6/11/25), with META circling 700 after establishing a 4-month new post-April 2025 recovery rally high at 708.87, this is what we discussed about the current technical setup: Just a heads up that my pattern work is warning me that the 52% upmove from the 4/07 low at 467.31 to today's (6/11) high at 708.87 has the right look of a completed, overextended, overbought, unconfirmed rally peak that leaves the price structure vulnerable to a correction of some magnitude.
On May 6, 2025, during the final hour of trading, and before AMD was scheduled to report quarterly Earnings that evening, I posted the following analysis to our MPTrader Discussion Room:AMD reports Earnings after the close... The only conviction I can derive from my pattern work is that the 4/08/25 low at 76.48, which represented a 66% correction from the March 2024 high at 227.30, has the right look of a significant low that completed a major bear phase.
On April 22, 2025, I posted the following analysis about my technical setup work in XBI (SPDR SP Biotech ETF):XBI (SPDR SP Biotech ETF)-- Could it be? Could it be that the near-40% correction from the 11/11/24 multi-year high at 105.47 to the 4/09/25 low at 66.66 fully discounted all the bad news in this sector? From a BIG Picture perspective, my attached Daily Chart shows this month's spike low into the vicinity of the previous major corrective low-zone starting in May 2022.
In the early afternoon on April 11, this was my note to our members:"IBIT (iShares Bitcoin Trust ETF)-- From a trading perspective, anyone who is in sync with the Bitcoin setup might consider owning IBIT (iShares Bitcoin ETF) against a stop below its 4/07/25 low at 42.98 (see my attached Daily Chart below)...
Last Thursday (4/17/25) afternoon, ahead of NFLX (Netflix) post-close earnings report and the three-day Good Friday holiday weekend, we discussed the technical setup and whether or not the NFLX pattern was positioned to react positively to the news : The NFLX setup heading into Earnings later today is favorable for upside continuation above the prior two rally highs at 993.45 (4/15) and 998.70 (3/25), but not to a new ATH above 1064.