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Archive
- 5/26/2023 -
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Salesforce.com (CRM) |
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third consecutive positive week for the Salesforce.com (CRM). During the week, the CRM gained 5.08 points, or 2.41%, and closed at 215.44 on Friday, May 26, 2023. Weekly volume was -33% below average.
CRM is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See CRM long-term trend chart]
A long-term downtrend had started on November 9, 2021 at 311.75 and reached 126.34 on December 22, 2022. CRM lost 185.41 points, or 59.47%, in 58 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (106.00) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. CRM may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See CRM medium-term trend chart]
A medium-term uptrend had started on February 24, 2023 at 159.65 and reached 216.15 on May 26, 2023. CRM gained -56.50 points, or -35.39%, in 13 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (206.70) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See CRM weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since January 6, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See CRM short-term trend chart]
A short-term uptrend had started on May 9, 2023 at 196.78 and reached 216.15 on May 26, 2023. CRM gained -19.37 points, or -9.84%, in 17 days. Price is near the trend high.
 Daily Technical Indicators: [See CRM daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence.
The daily MACD line is above its signal line since May 9, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
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