Salesforce Surges To All Time Highs: Now What?

Shares of Salesforce surged to new all time highs this week, and there is still plenty of upside left in the stock.When I own a stock that hits new all time highs, I look to apply fibonacci extension analysis to identify potential future resistance targets for the stock. The input is an emotional high and low of a stock.

Using the 2018 high and low as inputs, price targets derived from the fib analysis are $185 [+4.5% upside], $225 [+27% upside], and $287 [+62% upside]. Additionally, the stock has recently broke out of an ascending triangle pattern. This trading pattern has a high success rate and gives me confidence the first target of $185 will be met.


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