Salesforce (CRM) – Bullish DailyPlay for Tuesday August 7th, 2018

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.

View this Trade Idea on CRM

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.