Hi YXI friends,

Ahead of CPI, I have updated my latest take on popular non-Mag-7 companies in technology, namely PLTR, NFLX, UBER, CRM, ADBE, SNOW, CRWD, and SHOP.

My charting technique is based on the Elliott Wave Theory, but I sometimes also utilise the volume profile to help me gauge important price levels.

There is no pay wall for this update. All I ask is for you to share my newsletter to friends and colleagues who may find it helpful.

Let’s dive in!

Table of Contents

• 1. Salesforce (CRM)

• 2. Adobe (ADBE)

• 3. Palantir (PLTR)

• 4. Snowflake (SNOW)

• 5. Crowdstrike (CRWD)

• 6. Netflix (NFLX)

• 7. Shopify (SHOP)

• 8. Uber (UBER)

DISCLAIMER: This newsletter is strictly educational. Any information or analysis in this note is not an offer to sell or the solicitation of an offer to buy any securities. Nothing in this note is intended to be investment advice and nor should it be relied upon to make investment decisions. Any opinions, analyses, or probabilities expressed in this note are those of the author as of the note's date of publication and are subject to change without notice.

1. Salesforce (CRM)

CRM (https://www.tradingview.com/x/l1vUCRGS/)

CRM is close to the target zone for wave 2 pullback, between the 0.618 and 0.786 retrace of wave 1. This is also the area of highest trading volumes. It also sits right above the VWAP from December 2022 low, which has acted as support.

2. Adobe (ADBE)

ADBE (https://www.tradingview.com/x/mEBAj2Jt/)

ADBE is still trying to finish its wave C, although it is likely in wave v of C, with a target of $380. This is the 1.382 inverse-extension of wave iv.

3. Palantir (PLTR)

PLTR (https://www.tradingview.com/x/6eqDLtEC/)

We have tracked PLTR very well since the final week of February. PLTR briefly touched the wave (v) target of $74, which is also the VWAP since October 2024. There is room to go towards $71, as the 1.618 inverse extension of wave (iv).

But I would expect a wave-B bounce soon.

4. Snowflake (SNOW)

SNOW (https://www.tradingview.com/x/UaO6myoY/)

SNOW has reached the target zone for the initial wave C drop. It warrants a bounce here.

If going further below, it’s likely in a “zig-zag”, meaning 5 waves down instead. We will reconsider the path should that pattern evolve.

5. Crowdstrike (CRWD)

CRWD has so far walked nearly perfectly to our downside projections. I see yesterday’s bounce as wave (iv), with potentially one more leg lower towards $280 in wave (v).

There is heavy volume profile above in the $345 area as potential resistance and below $270 as potential support.

6. Netflix (NFLX)

NFLX (https://www.tradingview.com/x/boJGPsZo/)

NFLX has likely completed its wave circle-v pullback here. Going lower would indicate it’s in a zig-zag (5 waves down). Currently, my expectation is for NFLX to find its footing and make its way towards $1150+.

7. Shopify (SHOP)

SHOP (https://www.tradingview.com/x/gtBC4JG5/)

I lean towards wave circle-iv having completed for SHOP, which is the 50% pullback of wave circle-iii.

Wave circle-v could be in the $150-160 region.

8. Uber (UBER)

UBER (https://www.tradingview.com/x/QnQixIwV/)

I consider UBER having completed wave circle-iv in 2024 (spent a whole year consolidating). It seems ready to move forward but really needs to complete that wave v target at $88 first for confirmation. In this initial move, wave iv can overlap into wave i in a leading diagonal pattern.