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Possible Bearish Inside Day Candle Pattern Detected for Salesforce.Com (NYSE:CRM)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Salesforce.Com (NYSE:CRM) based on the price action in the company's shares. Yesterday's price range of $147.73 and $151.95 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Salesforce.Com may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Salesforce.Com share prices have moved between a 52-week high of $195.72 and a 52-week low of $115.29 and closed yesterday at 34% above that low price at $154.73 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.6%.

Salesforce.Com (NYSE:CRM) is currently priced 10.0% above its average consensus analyst price target of $139.32. Salesforce.Com shares should first meet resistance at the 200-day moving average (MA) of $159.56 and find additional resistance at the 50-day MA of $171.71.

salesforce.com, inc. provides software on demand. The Company 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.

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: bearish am inside day candle salesforce.com

Ticker(s): CRM