The Greedy Trader Weekly Analysis
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Daily RSI:> 70
Number of records: 10
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Relative Strength Index (RSI Indicator)

The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.

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- 7/5/2024 -
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Salesforce.com (CRM) Technical Analysis

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Summary:
Weekly :Overbought sector
Daily :Relative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtStochastic has declined below the signal linePrice has crossed above the 50 Day Moving Average
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It was a third consecutive positive week for the Salesforce.com (CRM). During the week, the CRM gained 6.09 points, or 2.37%, and closed at 263.19 on Friday, July 5, 2024. Weekly volume was -13% 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 uptrend had started on December 22, 2022 at 126.34 and reached 318.71 on March 1, 2024. CRM gained -192.37 points, or -152.26%, in 62 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 248.57 and resistance is at 363.08. 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 downtrend had started on March 1, 2024 at 318.71 and reached 212.00 on May 30, 2024. CRM lost 106.71 points, or 33.48%, in 12 weeks. The price is now at the 47.97% retracement level.

Weekly Technical Indicators: [See CRM weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 30, 2024 at 212.00 and reached 265.81 on July 5, 2024. CRM gained -53.81 points, or -25.38%, in 36 days. Price is near the trend high.

Daily Technical Indicators: [See CRM daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 daily MACD line is above its signal line since June 18, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 84.76
Overbought
Williams' Percentage Range (W%R) 8.10
Strong Overbought
Lane's Stochastic (%D-Slow) 90.35
Strong Overbought
Greed/Fear Indicator (GFI) 88.99
Overbought
Moving Average Converg./Diverg. (MACD) -3.50
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.21
Williams' Percentage Range (W%R) 52.50
Lane's Stochastic (%D-Slow) 35.65
Greed/Fear Indicator (GFI) 41.86
Moving Average Converg./Diverg. (MACD) 4.79
Trading Signals
Description Value Chart
Upper Bollinger Band 270.72
Daily Stochastic Crossing 263.30
Price 263.19
50 Day Moving Average 259.41
Yearly Trendline Support 248.57
20 Day Moving Average 244.24
Weekly Stochastic Crossing 242.82
Parabolic System 239.90
Lower Bollinger Band 230.54
Sector and Industry
Description Name Rank
Sector Information Technology 9
Industry Application Software 98
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 227.77
Low Date 06/17/2024
High 265.81
High Date 07/05/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 212.00
Low Date 05/30/2024
High 265.81
High Date 07/05/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 318.71
High Date 03/01/2024
Low 212.00
Low Date 05/30/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 158.10
Low Date 01/26/2023
High 318.71
High Date 03/01/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 363.08
Support 248.57
Low 126.34
Low Date 12/22/2022
High 318.71
High Date 03/01/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.