From the Desk of Steve Strazza and Alfonso Depablos
The most significant insider buy on today’s list comes via a Form 4 filing by VA Partners LLC.
The investment firm bought 428,000 shares of Salesforce Inc $CRM, equivalent to $99.7 million.
Here’s the chart of CRM:
The stock is finding support at the AVWAP from the 2022 lows after falling approximately 20% on earnings last week.
The bias is sideways for longer if the price remains stuck in the range.
However we have a clear level at approximately 312. If and when buyers lift price above that critical area of resistance, CRM could finally take off.
Elsewhere, Thomas. C. “Colm” Kelleher, director of Norfolk Southern Corporation $NSC, revealed a purchase of $501,957 in his own company’s stock.
Here’s The Hot Corner, with data through June 5, 2024:
Control Empresarial de Capitales S.A. revealed a $12 million purchase in PBF Energy Inc $PBF in its latest Form 4.
Here’s the PBF chart:
PBF has been carving out a base since 2018.
Our line in the sand lies at 54 as it coincides with a shelf or former highs.
Stay tuned. We’ll be back on Friday with more insider activity.
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All Star Charts Team
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