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Advanced TA SearchArchive
- 4/19/2024 -
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Salesforce.com (CRM) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Salesforce.com (CRM). During the week, the CRM dropped -23.95 points, or -8.14%, and closed at 270.37 on Friday, April 19, 2024. Weekly volume was 49% above 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 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 231.98 and resistance is at 336.25. 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 October 26, 2023 at 193.68 and reached 318.71 on March 1, 2024. CRM gained -125.03 points, or -64.55%, in 18 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (331.67) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. CRM may retest the broken support line. It is considered to be a resistance line now. 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 support in a medium-term trend.
 Weekly Technical Indicators: [See CRM weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 April 9, 2024 at 305.60 and reached 268.73 on April 19, 2024. CRM lost 36.87 points, or 12.06%, in 10 days. Price is near the trend low.
 Daily Technical Indicators: [See CRM daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. 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 and Williams' Percentage Range help.
The daily MACD line is below its signal line since March 6, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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.
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