Another bullish continuation for salesforce

CRM is looking at a potential strong bullish continuation after the stock has broken out of the bullish flag with a huge bullish bar with the support of a spike in volume. Furthermore, the stock has been in an uptrend channel since Dec 2022 and it is likely to continue higher. Hence, we are adding on to a buy position on CRM with near-term target price of 408. Should correction happens, the next support will be at 297 and 316.

Momentum is stable in the mid-term after stochastic may potentially cross right above the mid-point line. 23-period ROC has been rising and has broken past the 50-line. Directional movement index is showing early signs of the rise in bullish strength.