Salesforce, week 3: up 6.6% against the grain
Salesforce surges 6.6% and nears its trigger level ahead of earnings
Our view last week
Salesforce stock closes the second week of its buy signal up 1.8%, but a bearish engulfing bar on the daily chart cools the enthusiasm. The price is working near the top of its weekly Bollinger Band, with the tech sector still in a positive regime. Earnings are approaching, on August 26, and signal strength stays medium, at 66 out of 100.
This week's summary
Salesforce closes the week up 6.6%, bucking a tech sector down 3.5%. The price is closing in on its recent high, in the 211 area, with the weekly MACD improving and buyers in control on the daily chart. Earnings land this week, on August 26: an event that can move the stock either way. The buy signal, triggered 3 weeks ago, remains confirmed.
IQS Phase
50
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#59 / 167
US stocks in progress
Trade P&L %
+13.67%
from signal to date, no stop loss
Rank position
ranks 59th among the 167 Longs already running for US stocks in our ranking, with a signal strength of 66 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly -3.53% · monthly +1.69%
CRM belongs to the growth tech sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
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