Salesforce is in force! Trading idea for 16/01/2024
Analysts at the Baird brokerage company have upgraded the stock rating for Salesforce Inc. from Neutral to Outperform, setting a target price of 300 USD. They believe the issuer's business has a high margin, and the subsequent introduction of artificial intelligence technologies will increase it. For this reason, Salesforce shares may become attractive for both medium-term investment and short-term speculation.
So, today, we will examine the Salesforce Inc. (NYSE: CRM) stock chart.
On the D1 timeframe, resistance at 267.01 was broken through, and support formed at 250.17. The current upward trend will likely continue after a retest at the 267.01 level. Quotes are probably attempting to reach their historical maximum, but external macroeconomic factors can change the current trend.
On the H1 timeframe, a rebound from the 267.01 level could set a short-term target for a price increase at 282.00, while in the medium term, it could hover around 300.00.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
So, today, we will examine the Salesforce Inc. (NYSE: CRM) stock chart.
On the D1 timeframe, resistance at 267.01 was broken through, and support formed at 250.17. The current upward trend will likely continue after a retest at the 267.01 level. Quotes are probably attempting to reach their historical maximum, but external macroeconomic factors can change the current trend.
On the H1 timeframe, a rebound from the 267.01 level could set a short-term target for a price increase at 282.00, while in the medium term, it could hover around 300.00.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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