The bullish DailyPlay we chose for Tuesday, Aug 7th is Salesforce (CRM). CRM is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 2.88% move higher and its 1m and 6m trend has turned bullish on 8/2 while breaking above its $72.50 resistance level.
Salesforce’s 1m and 6m trends turned bullish on 8/2 while breaking above its $140 resistance level which now becomes support. With a technical score of 9 (out of 10), CRM is a strong bullish stock that will likely continue higher.
As a stop loss, if CRM was to trade below $140 for multiple days, this would invalidate our analysis and suggest getting out of the trade.