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Watch for salesforce.com to Potentially Pullback After Gaining 2.25% Yesterday
Feb 10, 2012 (SmarTrend(R) News Watch via COMTEX) --
salesforce.com (NYSE:CRM) traded in a range yesterday that spanned from a low of $126.92 to a high of $130.10. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $127.70 on volume of 4.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of salesforce.com on January 19th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $113.62. Since that recommendation, shares of salesforce.com have risen 10.6%. We continue to monitor CRM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Over the past year, salesforce.com has traded in a range of $94.09 to $160.12 and is now at $128.40, 36% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.2%.
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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