Salesforce, which had a very strong uptrend that brought the stock up to new all-time highs of $311 and which we have followed since the break in May when it was in the upper part of the bearish channel, has strongly reversed the course and is now approaching important supports. The Fed meeting ended as expected; the US central bank has announced an acceleration in the tapering of the bond purchase plan: the stimulus program will be canceled at the end of March. The decision to accelerate was voted in unanimously. Most FOMC members expect three rate hikes next year and three more in 2023. Jerome Powell said in the press conference that the US economy is robust. Techs reacted very well yesterday evening, after having already discounted the choices of the Fed.

Salesforce [CRM] grew 0.7% to $262 in pre-trading. Yesterday, it closed at $260 (+1.7%). After the all-time highs marked in the area of ​$​311, a rather strong corrective phase began for the stock which highlighted the confirmation of the $250 as an important psychological level, which in this case is a support. It could therefore be a good entry level with purchases in case of drops up to $240.

We recommend going LONG on the stock by buying the Leverage Shares Salesforce 3x ETP (ISIN: IE00BK5BZT14) or the 2x ETP (ISIN: IE00BD09ZY63), with an increase in exposure on any downturns towards $240, with a short-term target towards $270 and later at $280. Alert/stop loss should be above $250 (closing daily).