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After Yesterday's Rally of 1.11% Shares Could Potentially Pullback

By David Diaz

Salesforce.Com (NYSE:CRM) traded in a range yesterday that spanned from a low of $152.55 to a high of $157.60. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $155.95 on volume of 1.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Salesforce.Com has traded in a range of $102.37 to $161.19 and is now at $157.60, 54% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.5%.

SmarTrend recommended that subscribers consider buying shares of Salesforce.Com on December 28th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $134.74. Since that recommendation, shares of Salesforce.Com have risen 15.7%. We continue to monitor CRM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders salesforce.com

Ticker(s): CRM