Salesforce, which had a very strong uptrend that brought the stock up to new all-time highs of $311 and which we have followed since the break in May when it was in the upper part of the bearish channel, has strongly reversed the course and is now approaching important supports. Today, however, there is the Fed meeting which is a particularly important event, especially for technological stocks which are more sensitive than others to changes in the monetary policies of Central Banks. It is therefore impossible to make predictions today and it will be necessary to wait for this evening before setting up operational strategies. But let’s start monitoring Salesforce in a Long key.
Salesforce [CRM] grew 0.3% to $256.2 in pre-trading. Yesterday, it closed at $255.6 (-3.8%). After the all-time highs marked in the area of $311, a rather strong corrective phase began for the stock which highlighted the confirmation of the $250 as an important psychological level, which in this case is a support. It could therefore be a good entry level with purchases in case of drops up to $240. In any case, it is better to wait for the reaction of the markets to tonight’s Fed meeting to see what happens and decide with greater confidence.
We recommend going LONG on the stock by buying the Leverage Shares Salesforce 3x ETP (ISIN: IE00BK5BZT14) or the 2x ETP (ISIN: IE00BD09ZY63), with an increase in exposure on any downturns towards $240, with a short-term target towards $270 and later at $280. Alert/stop loss should be above $250 (closing daily).
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Sandeep joined Leverage Shares in September 2020. He leads research on existing and new product lines, asset classes, and strategies, with special emphasis on analysis of recent events and developments.
Sandeep has longstanding experience with financial markets. Starting with a Chicago-based hedge fund as a financial engineer, his career has spanned a variety of domains and organizations over a course of 8 years – from Barclays Capital’s Prime Services Division to (most recently) Nasdaq’s Index Research Team.
Sandeep holds an M.S. in Finance as well as an MBA from Illinois Institute of Technology Chicago.
Violeta joined Leverage Shares in September 2022. She is responsible for conducting technical analysis, macro and equity research, providing valuable insights to help shape investment strategies for clients.
Prior to joining LS, Violeta worked at several high-profile investment firms in Australia, such as Tollhurst and Morgans Financial where she spent the past 12 years of her career.
Violeta is a certified market technician from the Australian Technical Analysts Association and holds a Post Graduate Diploma of Applied Finance and Investment from Kaplan Professional (FINSIA), Australia, where she was a lecturer for a number of years.
Julian joined Leverage Shares in 2018 as part of the company’s premier expansion in Eastern Europe. He is responsible for web content and raising brand awareness.
Julian has been academically involved with economics, psychology, sociology, European politics & linguistics. He has experience in business development and marketing through business ventures of his own.
For Julian, Leverage Shares is an innovator in the field of finance & fintech, and he always looks forward with excitement to share the next big news with investors in the UK & Europe.
Oktay joined Leverage Shares in late 2019. He is responsible for driving business growth by maintaining key relationships and developing sales activity across English-speaking markets.
He joined LS from UniCredit, where he was a corporate relationship manager for multinationals. His previous experience is in corporate finance and fund administration at firms like IBM Bulgaria and DeGiro / FundShare.
Oktay holds a BA in Finance & Accounting and a post-graduate certificate in Entrepreneurship from Babson College. He is also a CFA charterholder.
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