CRM Trade on Aug 23, 2019 11:05 from Cklamb: Tradervue User Stock Trades.

CRM
Intraday Fundamentals
• Salesforce.com Inc. raised its full-year revenue outlook after reporting record results in the latest quarter, a positive sign for enterprise-technology spending as some companies in recent weeks warned of weakening client sentiment.
• The business-software provider said Thursday revenue in the July quarter rose 22% from a year earlier to $4 billion, beating analysts' consensus estimate of $3.96 billion and the company's internal guidance.
• Salesforce also surprised Wall Street with a second-quarter profit, though it was off 70% to $91 million, or 11 cents a share. The company had expected it would swing to a loss, in part, from accounting charges related to its $300 million buy of Salesforce.org, a public-benefit corporation that was a reseller of Salesforce software to the nonprofit and education sectors.
• Excluding stock-based compensation and other items, Salesforce said its quarterly profit was 66 cents a share, higher than the 47 cents a share analysts polled by FactSet had forecast.
• Shares increased nearly 7% in after-hours trading.
• Salesforce's revenue and stock price have risen in recent years as companies accelerate spending on digital transformations. The 20-year-old company, whose reputation grew from providing customer-relationship management tools, has also been positioning itself, similar to German rival SAP SE, to be a dominant provider of cloud-computing applications.
• "Whatever is going on around the world, we see a buying environment where we see CEOs investing -- and top of mind for them is digital transformation," Salesforce Co-Chief Executive Keith Block said on a conference call with analysts. "That's why they're turning to us and that's why you're seeing these results."
• For the current year, the San Francisco company raised its forecast for revenue to be between $16.75 billion and $ 16.9 billion, up from between $16.1 billion and $16.25 billion. However, the company also cut its earnings outlook as it works to digest a series of acquisitions.
• Salesforce closed its largest purchase to date earlier this month, buying data-analytics platform Tableau Software Inc. for more than $15 billion in stock. Less than a week later, it struck a $1.35 billion cash-and-stock deal to buy ClickSoftware Technologies Ltd.
• Salesforce said Thursday it expects full-year earnings of 28 cents to 30 cents a share, off from its prior guidance of 78 cents to 80 cents a share.
• The quarterly results are also a sign of relief for investors because Salesforce beat expectations despite concerns around potential softness in international markets and headwinds related to currency exchange rates, Stephens analyst James Rutherford said.
• The report comes after firms including networking-gear maker Cisco Systems Inc. and data-storage company NetApp Inc. raised concerns earlier this month about potentially tepid growth in information-technology spending.
• World-wide spending on enterprise-application software is expected to rise 8.8% this year to $210.69 billion, according to Gartner Inc., but that pace is slower than the nearly 13% growth a year earlier. Salesforce is the fifth- largest enterprise-application-software company in the world by revenue, with 5% of the market, the research firm said.
• One area where Salesforce still has room for growth is overseas, according to Wedbush Securities analyst Steve Koenig. "Their exposure internationally is still relatively limited to what it can be longer term," he said. "These guys have a lot of legs."
• Salesforce has made several acquisitions in recent years to provide its customers with more tools and services. It bought cloud-application builder MuleSoft Inc. in a $6.5 billion deal last year, and acquired e-commerce platform Demandware Inc. for $2.8 billion in 2016.
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Technicals
ADV 7.23 m RVOL 16.61 BETA 1.28 ATR 3.88 Short 3.53 Inst Own 76.30
Daily

Hourly

Intraday

Trading Plan
SUPPORT 156, 154 150 RESISTANCE 158, 160 161.20
• Conviction long at 154 if it flushes on profit taking in the first half hour
• Look for a solid hold of 156 and consider a long smaller size with some more room to work
• Long with some consolidation at VWAP later in the day
• Short scalps at 160 short and quick on the first rejection flip this trade when the tape tells you
• Short at 158 if it cannot break and the market stays weak
Reading the Tap
The next trade started to seem support at 156 in a manner that seemed similar price action on the last break above 156. But, I did not focus on this as much as I needed to make this trade. A little more patience here may have brought me out of the long bias. But, this was when Trump was tweeting and did not see the tape turn to risk off.
Trade Management

Trade review
• I am trying to get in on trend continuation plays and felt that the pullback to 156 should be a higher low
• Trump tweets gave the overall market weakness
• Stop was well placed for the trade at hand
• I was still not thinking that this was going to roll over after the a raise in full year guidance
• I would take this trade again because the RvR would allow this to only be right 20% of the time
Trade grade
Aspect Score Poss. Notes
Preparation 8 10 Yes .. I had a couple plans to get long on a trend continuation play
Hard Work 9 10 I was watching price action for almost 20 minutes before entering this trade
Patience 6 10 No… I need to wait for this to tell me it was revesting and not try to pick it before it happened
Plan 7 10 I did have a plan to take this to 157
Discipline 5 10 For the play and the though process at the time. yes
Contribution NA 10

Replay 0 10