 Welcome, traders, to another Tick-Mill-Ellington Report, preview with me, Patrick Munnerly. Before we jump into today's report, as always, we want to adhere to the risk disclaimer, material providers for information purposes only, and should not be considered as investment advice. The views, information, and opinions expressed by me are solely mine, and they're not indicative or representative of those held by Tick-Mill UK or Tick-Mill Europe Limited. Okay, let's jump into today's report we are looking at. Salesforce, earnings per share of 94 cents. Noteworthy, that represents, say, 22% fall from the prior 12 months. We're looking at revenue of 7.4 billion. Salesforce reportedly has slowed hiring as it looks to curb expenses. It's particularly noteworthy given CRM's recent focus on margin expansion as the firm guided to a 20% operating margin in the fiscal 2023 versus 18.7% in the 2022 period. The enterprise software maker has dropped the dot-com from its legal name, the name change from Salesforce.com to Salesforce Inc. took effect April 4th. Company continues to trade as CRM stock. Salesforce said it expects fiscal 2023 revenue in a range of 31.65 billion to 31.8 billion versus estimates of 31.52 billion. In addition, Chief Financial Officer Amy Weaver committed to higher margins. Including recently acquired Slack technology, Salesforce fourth quarter earnings fell 19% to 84 cents on an adjusted basis. Revenue climbed 26% to 7.33 billion including 312 million from Slack. The enterprise software maker said current remaining performance obligations or CRPO bookings rose 22% to 22 billion. That top down assessments of 21.42 billion. Meanwhile, CRPO bookings are an aggregate of deferred revenue and other ordered backlog. For the current quarter ending in April, Salesforce revenue out in the top tech expectations. The software maker expect revenue in the range of 7.37 billion to 7.38 billion versus the estimate of 7.4 billion. There is actually a whisper number on the street that the EPS print could be as high as 97 cents a share. Let's take a look at some of the statistical trading patterns around Salesforce earnings releases. CRM shares have moved higher than the immediate aftermath of earnings six out of 12 previous reports. On average, the stock moved up to 0.6% in the first day of trading after its earnings release. Based upon the previous 12 earnings releases, CRM is more likely to trade higher one day after earnings where an average gain of 0.3%. On average, the stock has moved lower by 0.3% one week after earnings. In terms of implied volatility and what the options market is pricing, options traders see an 8.6% move on earnings. However, the stock has only averaged a 5.9% move in recent quarters. Looking at flow and sentiment here, there's been a notable buyer of 1,653 contracts with a $170 call expiring this Friday. Options order flow of sentiment in general, though, has been bearish. Investor sentiment going into the company's earnings release has a 64% expectancy of an earnings beat. CRM share prices drifted down 21.5% post its last earnings announcement. Using the last 12 quarters of data, the average drift between earnings announcements is actually 2.8%. Let's pull up a chart here and we can take a look at the technicals and see where there may be a near-term opportunity from a trading perspective. We have put in a base here around the $154 level. Notable bullish momentum divergence has occurred. And this is broadly in line with the markets which have been experiencing a relief rally, corrective upside move currently. So for me at this stage, if we can take out the 1,68 level on the upside, then I would be targeting a move up into the trend channel resistance at the 182.45 level. As pullbacks remain supported back into the 1,69, then we could look for a similar bounce, corrective move that we saw during the beginning, sorry, late February to mid-March. So that would take us up into the $190 level. So that would be my upside target if we can get through that 170 level. And that's when that call would obviously come into play as well. So that's the upside setup if we can get that move. However, if we do see a miss and disappointments, then any closing breach of this 154 level should see us down targeting 143, 142. And then whilst that 154 then acts as resistance on the upside, I'd actually have a downside target into the 1,21 level and the projected trend channel support coming in just below there at the 116 handle. As always traders, plan the trade, trade the plan, and most importantly, manage your risks. Until next time, thanks very much.