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Downtrend Broken Resist.Archive
- 12/13/2024 -
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Salesforce.com (CRM) Technical Analysis
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| Summary:
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| | It was the negative week for the Salesforce.com (CRM). During the week, the CRM dropped -7.69 points, or -2.12%, and closed at 354.30 on Friday, December 13, 2024. It was the worst weekly loss since September 6, 2024. CRM was trading at average weekly trading volume.
 Long-term trend: [See CRM long-term trend chart]
A long-term uptrend had started on December 22, 2022 at 126.34 and reached 369.00 on December 4, 2024. CRM gained -242.66 points, or -192.07%, in 101 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 252.03 and resistance is at 421.39. 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 369.00 on December 4, 2024. CRM gained -157.00 points, or -74.06%, in 26 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (254.07) 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. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic 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, 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 near its 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 uptrend had started on November 19, 2024 at 316.00 and reached 369.00 on December 4, 2024. CRM gained -53.00 points, or -16.77%, in 15 days. The price is now at the 27.74% retracement level.
 Daily Technical Indicators: [See CRM daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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