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Salesforce.com Inc (CRM) “On a long-term technical basis, the stock (CRM) is trading above its 200-day moving average which implies it is in a positive trend. However, the stock has broken through an important trendline at 173.92 suggesting the next level of support is 159.69. The long-term uptrend has now turned neutral.
The stock has support at 159.69 and 151.00. If the stock breaks down through support at 159.69 then it will probably continue lower to 151.00. The stock will meet resistance at 161.20 and 173.92. If the stock breaks up through resistance at 161.20 then it will probably continue higher to 173.92. The 200-day moving average is at 154.46. This will also act as support. If the stock closes below 159.69 a negative trend change is probable. Look for the stock to fall to the 200-day moving average at 154.46. The stock is extremely overbought according to the Stochastic Indicator (84.28).”
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