Swing Trade Idea – (CRM) – August 18, 2020
Our bullish trade for Tuesday, August 18th is Salesforce.Com Inc (CRM). CRM is part of the Technology Sector (XLK). XLK has experienced a 7.31% gain in the last month and its 1M trend turned bullish on July 29th.
CRM’s 1M trend turned bullish on August 17th as price bounced higher after pulling back to an area of support. With a technical score of 7 (out of 10), CRM is a strong stock that will likely move higher.
As a stop loss, if CRM were to trade above $190 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We would also consider cutting losses on this options trade if the value of the vertical spread moves above $1.60.
