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SmarTrend Watching for Potential Pullback in Shares of Salesforce.Com After 2.81% Gain

By Amy Schwartz

Salesforce.Com (NYSE:CRM) traded in a range yesterday that spanned from a low of $120.01 to a high of $122.96. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $121.94 on volume of 2.6 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 $66.43 to $128.87 and is now at $122.62, 85% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.3%.

SmarTrend is monitoring the recent change of momentum in Salesforce.Com. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Salesforce.Com in search of a potential trend change.

Keywords: rebounders salesforce.com

Ticker(s): CRM