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Watch for salesforce.com to Potentially Pullback After Gaining 1.09% Yesterday
Jan 09, 2013 (SmarTrend(R) News Watch via COMTEX) --
salesforce.com (NYSE:CRM) traded in a range yesterday that spanned from a low of $169.33 to a high of $172.37. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $170.70 on volume of 962,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
salesforce.com share prices have moved between a 52-week high of $173.96 and a 52-week low of $99.53 and are now trading 73% above that low price at $171.83 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.8%.
SmarTrend recommended that subscribers consider buying shares of salesforce.com on November 21st, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $154.45. Since that recommendation, shares of salesforce.com have risen 10.1%. We continue to monitor CRM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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