AI obsolescence fears for CRM were unfounded; valuation was too low, but future performance hinges on successful AI adoption.

CRM, big pop on CRM here, just like CrowdStrike and Nvidia. If we look at this, you can see the stock had been pounded down. Granted, it's rallied back significantly going into the earnings, but still way off of its all-time highs based on the SAS the SAS apocalypse or whatever they call that thing where the the fear was essentially that AI was going to make these software companies obsolete.

is that unfounded? I think the the charts got way too cheap. Uh, but again, the question is which sink or swim? In other words, which ones adopt AI and use it to their advantage versus don't adopt it and then they fall by the wayside.

And CRM showing some good numbers here, guys. No doubt about it.

Um, again, in terms of a level here, you have a descending trend line, but notice we had already broken out above that. So, look, you broke out, you retraced, and now look, it was a perfect retrace pop.

That's exactly how a chart is supposed to go. Again, if I just draw it in here, you have a descending trend line. It works as resistance. price breaks out, then comes back, and once it retests that, which was at one point resistance, now support, then it goes ripping to the upside.

And that's essentially exactly what we're seeing on CRM.

Now, in terms of a trade level, there's a gap fill here. We've already touched that level pre-market, so I'm not interested. I will now start looking at a secondary level right here on CRM, right around 239 to 240.

And you can see what I'm finding here. I'm using this pivot high to this pivot high right around 239 240. But also look at this. If I take a Fibonacci retrace from that high pivot to the recent lows and we drag it across, look at this.

Basically merging together, you have your 618 Fibonacci retrace with that trend line. And so that gives me additional confidence that the 240 level should be a very solid opportunity for at least a day trade.

I don't think I would swing trade that level. Uh but a day trade in the very least.