Salesforce (CRM) Could Be Next Cloud to Go

Salesforce.com, inc. (CRM) is acting much better after being stuck in a right range for most of April. The stock broke a mini downtrend around $135 a week ago and is flagging very nicely now. I am long tier one in here and will add above the high of the flag pattern. It is holding up well and if volume takes it through $142 it should see new highs at some point.

The problem we have run into with some of these cloud stocks is earnings coming soon (I don’t like to take stock into earnings), bit CRM earnings are next month so we have some time. The stop on the trade would be $136.

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Disclosure: Long CRM

About Scott Redler 367 Articles

Scott Redler is the Chief Strategic Officer of T3 Live. He develops all trading strategies for the service and acts as the face of T3 Live. Mr. Redler focuses on thorough preparation and discipline as a trader.

Mr. Redler has been trading equities for more than 10 years and has more recently received widespread recognition from the financial community for his insightful, pragmatic approach. He began his career as a broker and venture capitalist where he was able to facilitate relationships that led him into trading. Beginning his trading career at Broadway Trading in 1999, Mr. Redler moved on with Marc Sperling to Sperling Enterprises, LLC after establishing himself as one of the best young traders in the firm. As a manager at Sperling Enterprises, continued to trade actively while working closely with all traders in the firm to dramatically increase performance.

Mr. Redler has participated in more than 30 triathlons and one IronMan, exhibiting a work ethic that also defines his trading. His vast knowledge and meticulous attention to detail has led to regular appearances on CNBC, Fox Business, Bloomberg, and he is a regular contributor to Minyanville and Forbes’ Intelligent Investing blog. He has been quoted in the Wall Street Journal and Investor's Business Daily, among other publications.

Scott received a B.B.A. in Marketing/Finance from the State University of New York at Albany, graduating Magna Cum Laude from Albany's School of Business.

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