CRM eyes on 212 then 208: earnings dump nearing BUY levels

30 May

Earnings Report caused a massive dump.
Now approaching some key support zones.
The "wait 3 days" rule might bring it to us.

$ 212.34 - 212.34 is the first support below.
$ 207.55 - 208.20 next, a must-hold for bulls.
$ 223.06 - 224.58 is the immediate resistance.

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31 May

Not

We have a bounce EXACTLY where hoped:

And that bounce (albeit small) was on a down day for market

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Zoom in (m1 with some notes:

The bounce got to the local fib above at $217.14

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Adding a fib to the bounce:

Several "PIngs" (exact ricochets) show fib-compliacne,
and that is the first requirement to a sustainable wave.
Too early to declare a bottom, but a promising bounce.

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3 Haz

Not

Those PIngs that promised a sustainable wave:


Proved to be valid with a massive follow thru:


So we convert our original "linear" fib (blue stripe) to a "Golden" series (blue+gold)


Which does not show very good fitment after last bounce:


So looking for another "Impulse" we can place another Linear fib


Zoom out a bit and looking above:

First guess of target of this wave is the bue 4.236 at $239.12,
and that is in tight confluence with a Genesis fib at $239.08,
so we can look for that target next, and be very alert if gets there.

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3 Haz

Not

1st Guess Target hit!

Spiked up at open, right thru our target.
But pulled back to existing fib at 230.25.
Our sell orders at 239 were well placed.

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Zoomin OUT a bit (m8)

Our exit target of $39 is a major hurdle.
Break and retest would say bottom in.

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