Contact Center Solutions Industry News

TMCNet:  salesforce.com Falls 2.87% on Heavy Volume: Watch For Potential Rebound

[January 16, 2013]

salesforce.com Falls 2.87% on Heavy Volume: Watch For Potential Rebound

Jan 16, 2013 (SmarTrend(R) News Watch via COMTEX) -- salesforce.com (NYSE:CRM) traded in a range yesterday that spanned from a low of $167.27 to a high of $174.72. Yesterday, the shares fell 2.9%, which took the trading range below the 3-day low of $171.17 on volume of 4.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.

Over the past year, salesforce.com has traded in a range of $102.27 to $174.96 and is now at $169.64, 66% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.1%.

SmarTrend recommended that subscribers consider buying shares of salesforce.com on November 21st, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $154.45. Since that recommendation, shares of salesforce.com have risen 13.1%. 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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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