• Salesforce (CRM) Rides the AI Wave: Analyst Bullishness and Bullish Technical Signals

  • Nov 11 2024
  • Length: 2 mins
  • Podcast

Salesforce (CRM) Rides the AI Wave: Analyst Bullishness and Bullish Technical Signals

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  • Summary

  • **Salesforce (CRM) Analysis**

    1. **Current Price and Intraday Trading Range**: The current price of Salesforce (CRM) is $297.49, with a recent intraday trading range of $294.74 to $298.81[4].

    2. **Pre-market and After-hours Movement**: No specific pre-market or after-hours data is available in the provided sources.

    3. **Trading Volume vs Average**: The recent volume is 1,683,408, but no average volume is provided for comparison[4].

    4. **Recent News or Announcements**: There are no recent news or announcements in the last 24 hours mentioned in the provided sources.

    5. **Major Analyst Updates or Price Target Changes**: The average rating for CRM stock is "Buy" with a 12-month stock price forecast of $313.85, indicating a 5.75% increase from the latest price[4].

    6. **Options Flow Activity**: No information on options flow activity is available in the provided sources.

    7. **Related Semiconductor/AI Sector News**: Salesforce's innovative integration of AI technologies positions it as a leader in the sector, with a 33% upside potential suggested by the discounted cash flow model[4].

    8. **Key Technical Indicators for Day Trading**:
    - **Moving Averages**: CRM is above its 8-day, 20-day, 50-day, and 200-day simple and exponential moving averages, indicating a strong buy signal[1][3].
    - **Technical Rating**: CRM is rated as "Very Bullish" based on technical indicators[3].
    - **Pivot Levels**: The classic pivot levels are R1: $300.92, R2: $303.91, R3: $307.77, PP: $297.06, S1: $294.07, S2: $290.21, S3: $287.22[3].

    **Market Sentiment**: The overall market sentiment for Salesforce (CRM) is bullish, with analysts and technical indicators suggesting a buy. The company's strong financial performance and strategic integration of AI technologies further support this sentiment.
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