🚀 CRM Bullish Double bottom unfolding
Ticker: Salesforce, Inc. (CRM)
Timeframe: 1D (Daily Chart)
Setup Type: Potential Double Bottom / Range Breakout
Bias: Bullish Reversal
Technical Breakdown
CRM is showing signs of forming a potential bottoming structure after a sharp decline and a period of sideways consolidation. We're currently sitting near the bottom of the range, and this could offer a favorable long setup with clearly defined risk and reward.
Look at the Blackstone's chart where a double bottom appeared in a very similar moment and offered a great opportunity to join the rally.
Here’s what’s happening:
Price has tested the same support level twice, around $259, hinting at a possible Double Bottom pattern.
If buyers step in from here and push price above the resistance zone near $275–278, we could see a strong continuation move.
The Volume Profile (VPVR) shows a big high-volume node above $275, meaning once that level is cleared, there’s room to run.
🎯 Educational Trade Plan
Entry idea: On confirmation of support around $259 or breakout above $278
Stop Loss: Below support, ~3% risk
Target 1 (Easy TP): 5.5% – retest of previous highs near $290
Target 2 (Full Move): 11% – around $310, aligned with the broader resistance and VPVR value area
💡 Why This Matters
This setup offers a tight stop and healthy reward, perfect for traders looking for calculated entries. It's also a great teaching moment:
-> When price consolidates near support with clear structure and nearby volume gaps, breakouts can be explosive once resistance gives way.
-> If CRM confirms the bounce, we could be at the early stages of a bullish swing back to value.
✅ Key Takeaways for Traders
Structure: Potential double bottom or range play
Location: Near strong support
Volume: Favorable above resistance
Risk Management: Clean stop just below lows with great risk/reward ratio.
💬 Does this setup align with your view on CRM?
🚀 Hit the rocket if this helped you spot the opportunity and follow for more clean, educational trade ideas!
Ticker: Salesforce, Inc. (CRM)
Timeframe: 1D (Daily Chart)
Setup Type: Potential Double Bottom / Range Breakout
Bias: Bullish Reversal
Technical Breakdown
CRM is showing signs of forming a potential bottoming structure after a sharp decline and a period of sideways consolidation. We're currently sitting near the bottom of the range, and this could offer a favorable long setup with clearly defined risk and reward.
Look at the Blackstone's chart where a double bottom appeared in a very similar moment and offered a great opportunity to join the rally.
Here’s what’s happening:
Price has tested the same support level twice, around $259, hinting at a possible Double Bottom pattern.
If buyers step in from here and push price above the resistance zone near $275–278, we could see a strong continuation move.
The Volume Profile (VPVR) shows a big high-volume node above $275, meaning once that level is cleared, there’s room to run.
🎯 Educational Trade Plan
Entry idea: On confirmation of support around $259 or breakout above $278
Stop Loss: Below support, ~3% risk
Target 1 (Easy TP): 5.5% – retest of previous highs near $290
Target 2 (Full Move): 11% – around $310, aligned with the broader resistance and VPVR value area
💡 Why This Matters
This setup offers a tight stop and healthy reward, perfect for traders looking for calculated entries. It's also a great teaching moment:
-> When price consolidates near support with clear structure and nearby volume gaps, breakouts can be explosive once resistance gives way.
-> If CRM confirms the bounce, we could be at the early stages of a bullish swing back to value.
✅ Key Takeaways for Traders
Structure: Potential double bottom or range play
Location: Near strong support
Volume: Favorable above resistance
Risk Management: Clean stop just below lows with great risk/reward ratio.
💬 Does this setup align with your view on CRM?
🚀 Hit the rocket if this helped you spot the opportunity and follow for more clean, educational trade ideas!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.