Tuesday, 27 November 2012

CRM back at resistance

Looking at the Charts today I noticed that Salesforce.com was once again testing the 160 overhead resistance. This level has been a major hurtle for this stock, as it has had trouble closing above 160 for the past year

Take a look at the 160-161 leve on this two year CRM chart:

From a larger perspective, there is a potential for a Head and Shoulders pattern if the overhead resistance holds. BUT if CRM breaks through 160-161 in a decisive manner (closing around 164 and keeps going) it could be the trigger for a break-out to new highs.

Either way, it's not a bad time to pay attention to CRM.

1 comment:

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