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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. Today's price range of $174.18 and $175.76 is within yesterday'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.

In the past 52 weeks, Salesforce.Com share prices have been bracketed by a low of $115.29 and a high of $195.72 and are now at $175.76, 52% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.9% while the 200-day MA has remained constant.

Salesforce.Com (NYSE:CRM) is currently priced 20.7% above its average consensus analyst price target of $139.32. Salesforce.Com shares have support at the 200-day moving average (MA) of $159.52 and additional support at the 50-day MA of $153.23.

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 tracking the current trend status for Salesforce.Com and will alert subscribers who have CRM in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle salesforce.com

Ticker(s): CRM