After Yesterday's Rally of 1.63% Shares Could Potentially Pullback
salesforce.com (NYSE:CRM) traded in a range yesterday that spanned from a low of $81.83 to a high of $83.41. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $82.48 on volume of 2.9 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 $52.60 to $83.41 and is now at $83.36, 58% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.3%.
SmarTrend recommended that subscribers consider buying shares of salesforce.com on February 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $68.99. Since that recommendation, shares of salesforce.com have risen 18.5%. We continue to monitor CRM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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