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Archive
- 11/22/2024 -
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Salesforce.com (CRM) Technical Analysis
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| Summary:
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| | It was a fourth consecutive positive week for the Salesforce.com (CRM). During the week, the CRM gained 12.30 points, or 3.78%, and closed at 337.50 on Friday, November 22, 2024. Weekly volume was -28% below average.
 Long-term trend: [See CRM long-term trend chart]
A long-term uptrend had started on December 22, 2022 at 126.34 and reached 348.90 on November 12, 2024. CRM gained -222.56 points, or -176.16%, in 98 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 248.61 and resistance is at 414.16. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See CRM medium-term trend chart]
A medium-term uptrend had started on May 30, 2024 at 212.00 and reached 348.90 on November 12, 2024. CRM gained -136.90 points, or -64.58%, in 23 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (250.50) 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 Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since September 20, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See CRM short-term trend chart]
A short-term downtrend had started on November 12, 2024 at 348.90 and reached 316.00 on November 19, 2024. CRM lost 32.90 points, or 9.43%, in 7 days. The price is now at the 65.35% retracement level.
 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.
The daily MACD line is above its signal line since November 20, 2024. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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