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Next Resistance Level for salesforce.com (CRM) is $176.68

Published on Fri, 02/01/2013 - 10:43
By Adrienne Chilton

Shares of salesforce.com (NYSE:CRM) opened today above their pivot of $172.50 and have already reached the first level of resistance at $174.41. Should the shares continue to rise, the resistance pivots of $176.68 and $180.86 will be of interest.

There is potential upside of 4.1% for shares of salesforce.com based on a current price of $174.69 and an average consensus analyst price target of $181.90. The stock should discover initial support at its 50-day moving average (MA) of $166.02 and subsequent support at its 200-day MA of $149.21.

Salesforce.com, Inc. provides application services that allow organizations to share customer information on demand. The Company provides a customer relationship management service to business of all sizes and industries worldwide.

Over the past year, salesforce.com has traded in a range of $114.52 to $178.91 and is now at $174.69, 53% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.6%.

By Adrienne Chilton
achilton@fnno.com