Details: We could have found a top in wave C. Looking for confirmation of further downside with a tested resistance on top of 250$. It’s possible we will double correct in wave (2), or else we could be in a wave (C) of a complex correction.

Welcome to our latest Elliott Wave analysis for Salesforce Inc. (CRM). This analysis provides an in-depth look at CRM's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on CRM's market behavior.

CRM Elliott Wave technical analysis – Daily chart

The daily chart indicates that CRM is expected to complete Primary wave C in a five-wave sequence. It appears that wave (2) was a sharp corrective wave, and the market is now resuming lower in wave (3). Traders should watch for further downside momentum as wave (3) progresses, looking for confirmation through price action and volume.

CRM Elliott Wave technical analysis – Four-hour chart

The 4-hour chart shows that CRM may have found a top in wave C, indicating the start of a new downward trend.

Technical analyst: Alessio Barretta.

CRM Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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