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Tickers in this Article: CRM
New York, August 9th (TradersHuddle.com) - Shares of Salesforce.com, Inc. (NYSE:CRM) closed the session at $135.55, near the 50 day and 200 day moving averages currently set at $132.62 and $132.28 respectively. Salesforce.com's price action is above these important levels, which could materialize into a trading opportunity.Salesforce.com, Inc. (NYSE:CRM) supplies a customer relationship management service to businesses worldwide providing a technology platform for customers and developers to build and run business applications. Clients use Salesforce.com to manage their customer, sales and operational data.

Although, the price action is above these moving averages, it's important to highlight that the 50 day moving average is currently above the 200 day moving average. This signals that the stock is not technically broken from the long side and buying the dip strategy might be the best setup to follow.

The peaks and troughs algorithm show calculated support at $120.18 and calculated resistance at $138.99. These levels should also be evaluated by traders when planning their next move, as they provide an insight into the latest price action.

If traders want to establish a position on ".$shcompname." they need to do it as close to the moving averages as possible. Also, they need to consider the latest range defined by the peaks and troughs algorithm, not forgetting that if the stock had a wild move outside its range, it could take a few days for it to establish fresh support and resistance levels.

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