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Today, we’re opening a new bullish trade on Salesforce.com (NYSE:CRM). Compared to many stocks on Wall Street, CRM has been incredibly stable during the past few months.
Most of this is thanks to the continuing, and accelerating, shift that companies are making to the cloud. As data and technology become increasingly important, companies like CRM are likely to see continued growth, which makes them an ideal target for bullish traders.
CRM has an earnings announcement coming up on May 24, after market close. We expect the stock to start climbing up to its previous highs around $128 in the run up to this announcement, especially now that the Federal Open Market Committee (FOMC) has eased investor concerns by not indicating it is going to be raising interest rates at a faster clip in 2018.
‘Buy to open’ the CRM June 130 Call (CRM180615C00130000) for a maximum price of $2.90.
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