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salesforce.com Rises 2.25% on Heavy Volume: Watch For Potential Pullback
Feb 10, 2012 (SmarTrend(R) News Watch via COMTEX) --
salesforce.com (NYSE:CRM) traded in a range yesterday that spanned from a low of $126.92 to a high of $130.10. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $127.70 on volume of 4.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of salesforce.com have traded between a low of $94.09 and a high of $160.12 and are now at $128.40, which is 36% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has slid 0.2%.
SmarTrend recommended that subscribers consider buying shares of salesforce.com on January 19th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $113.62. Since that recommendation, shares of salesforce.com have risen 10.6%. We continue to monitor CRM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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