OptionsPlay DailyPlay

The bullish DailyPlay we chose for Tuesday, Aug 7th is Salesforce (CRM). CRM is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 2.88% move higher and its 1m and 6m trend has turned bullish on 8/2 while breaking above its $72.50 resistance level.

Salesforce’s 1m and 6m trends turned bullish on 8/2 while breaking above its $140 resistance level which now becomes support. With a technical score of 9 (out of 10), CRM is a strong bullish stock that will likely continue higher.

View this Trade Idea on CRM

As a stop loss, if CRM was to trade below $140 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

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