CRM — Weekly Structure | 200WMA Reclaim and Wave 1 in ProgressSalesforce, Inc.BATS:CRMmaratteoThesis CRM appears to have completed its corrective ABC structure and has now broken back above the 200-week MA following a strong earnings reaction. If this reclaim holds, I see the current move as the early stage of Wave 1, with the first major structural target around $333. Context - Weekly timeframe - ABC correction appears complete - I started building CRM in the mid $160s in May during the broader SaaS selloff - The stock had moved deeply below its 200-week MA despite fundamentals that, in my view, did not justify the level of pessimism - Salesforce has now raised its FY27 outlook after another solid quarter What I see - Price has broken the upper trendline of the corrective channel - The 200-week MA around $233–234 has finally been reclaimed - The earnings move came with stronger volume and a sharp improvement in weekly momentum - What had been resistance can now become the first important support - As long as this structure holds, I believe Wave 1 can continue toward the $333 area What matters now - The first test is whether buyers defend the 200-week MA on a pullback - Holding $233–234 would confirm that the long-term structure has materially improved - $256 and $280 are the next intermediate Fibonacci references on the way higher - Losing the 200-week MA again would weaken the current breakout Buy / Accumulation zone -I am already positioned from the mid $160s, so there is no reason for me to chase this earnings move - A clean retest and hold of the 200-week MA would be interesting - If Wave 1 eventually reaches the $333 area, I would then expect a Wave 2 correction, potentially back toward the $260 region - That would become my preferred area to build the position further Targets - Wave 1: approximately $333 - Expected Wave 2 retracement: approximately $260 - Long-term Wave 3 objective: low $500s Execution note When I started building CRM in May, the entire SaaS sector was being sold aggressively and the stock was trading far below its long-term average. That was also why I preferred CRM and ZETA within the sector. I believed both businesses were being caught in a broader software selloff rather than seeing their underlying thesis break. From the mid $160s to the current area, CRM has already moved close to 50% in only a few months. Returns like that should never be dismissed simply because the longer-term structure still has much further to develop. This remains a multi-year position for me, not a short-term trade.