Tracking CRM's Price Path

by Mike Paulenoff
January 23, 2021 • 1:50 PM EST
On Thursday of this past week, Mike Paulenoff alerted MPTrader members of a long set-up in CRM (salesforce.com), writing:
"After making yet another new multi-month corrective low at 212.98 last Friday, CRM has turned up and has climbed above initial resistance at 219.50-220.00, which triggered an initial 'long alert' in my work."
Mike added: "My work argues that CRM has turned up, and has triggered a preliminary buy signal. Only a sharp downside reversal that violates the Jan 15th intraday low at 212.98 will invalidate the signal."
Mike had been tracking CRM in the MPTrader Trading Room for the past 7 weeks, as it progressed towards completion of a major correction.
On Friday morning, he followed up, noting: "CRM is following my preferred technical price path, turning up from last Friday's low at 212.98 towards a challenge of 223-225, which if (when?) hurdled, will confirm the conclusion of the entire Sep-Jan correction (284.87 to 212.98), and the initiation of a potentially very powerful new upleg."
As it turned out, Goldman Sachs on Friday upgraded CRM to a "Buy," with a target orice of $315, and the stock reached an intraday high of 227.79 before closing at 225.77.
Is CRM poised for upside continuation after a completed multi-month correction?
Join Mike in the MPTrader Trading Room for his technical updates in addition to analysis, discussion, and commentary from our members throughout the trading day about individual stocks, indices, macro trends, currencies, precious metals 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!
More Top Calls From Mike
Every person on the planet is now aware that early on Saturday night, June 21st, 2025, the U.S. military attacked and severely damaged (destroyed?) Iran's nuclear sites and presumably their ability to produce nuclear materials needed to create a WMD.
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)...