Here’s my take on SalesForce (CRM). Personally there is not way you are going to get me to short this. The stock is constantly the subject of buyout rumors and is not worth it not matter how bearish the chart is. But that doesn’t preclude me from doing a post on this dismal looking chart and where it could eventually find itself trading.
On the flip side, there is a bounce opportunity, but for me to play the bounce, we don’t want to be doing it when the market is acting like it wants to roll over again, and quite frankly that is what it is attempting to do today.
Here’s the CRM chart:
