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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 177.49 suggesting the next level of support is 162.41. The long-term uptrend has now turned neutral.
The stock has support at 162.41 and 153.41. If the stock breaks down through support at 162.41 then it will probably continue lower to 153.41. The stock will meet resistance at 167.56 and 177.49. If the stock breaks up through resistance at 167.56 then it will probably continue higher to 177.49. The 200-day moving average is at 155.17. This will also act as support. If the stock closes below 162.41 a negative trend change is probable. Look for the stock to fall to the 200-day moving average at 155.17. The stock is extremely overbought according to the Stochastic Indicator (88.95), so look for a possible pullback soon. Confirm this with the Short-Term and Daily Opinion to keep from exiting prematurely.”
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