1) Overall impression $CRM is completing its current $60 impulse from its last local bottom. Coming off of 70 RSI, sitting at 67 today, the move up is indeed exhausted.
2) Major direction next is down to the $178 area.
3) However, immediately after earnings, it may go tag $220 to close a nearby gap overhead and reject hard at it, just a wick higher.
How to play this?
- Have sell orders at $220 or slightly lower in case it wicks higher to close the gap and reject.
- Otherwise, this is a short to $178 from current levels.
The structure is very similar to $PLTR, and other $IGV constituents. You can follow the same trade down on $PLTR if you prefer, same corrective wave down.
Same hold true for $NOW and $MSFT then ? TRIM/SHORT?