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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 176.47 suggesting the next level of support is 161.63. The long-term uptrend has now turned neutral.
The stock has support at 161.63 and 152.97. If the stock breaks down through support at 161.63 then it will probably continue lower to 152.97. The stock will meet resistance at 167.56 and 176.47. If the stock breaks up through resistance at 167.56 then it will probably continue higher to 176.47. The 200-day moving average is at 155.05. This will also act as support. If the stock closes below 161.63 a negative trend change is probable. Look for the stock to fall to the 200-day moving average at 155.05. The stock is extremely overbought according to the Stochastic Indicator (93.53).”
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