Salesforce.com: An Expected Move Towards And Below The $154 Support Level
Today’s instrument is Salesforce.com Inc.‘s stock traded on the NYSE exchange under the ticker CRM.
When we look at the CRM‘s chart, we see its rise from the $160 level on the 14th of May to the $166 on the 17th of May and its failed attempt to break the $169 overhead resistance leading to the retraction back to $160 on the 18th of May. Since then, it managed to climb to the $164 but then it fell lower to the $155 level during yesterday’s session. It was last found trading at the $155.46 range having the closest support level at the $154.
Today we can expect a move towards and below the $154 support level, possibly near $151
If however, it manages to hold on to the current level then a move towards the $160 can be expected.
(Click on image to enlarge)
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