SalesForce.com High Momentum continues to new Highs

Published on Wednesday, 01 September 2010 08:11 Written by The Trader Next Door

New York, Sep 1^st (TradersHuddle.com) – Shares of Salesforce.com (NASDAQ:CRM) have been outperforming the market for the past year with a very strong uptrend that continues to push higher and higher making new all time highs for the stock.

Salesforce.com supplies a customer relationship management service to businesses worldwide providing a technology platform for customers and developers to build and run their own business applications. Clients use Salesforce.com to manage their customer, sales and operational data.

Investors that got in early last year are enjoying a more than 110% gain on their investments, which despite the overbought state has only provided a handful of good entry points as the stock moved through its steep uptrend channel.

Salesforce.com stock broke its uptrend channel upper bound resistance a couple of weeks ago, after the company reported a blockbuster quarter that generated a strong gap and breakout above resistance. After the breakout there was a pullback to the breakout area, which in the case of {module 212}Please Login to See Member Only Content -- It's Free

Long SalesForce.com (NASDAQ:CRM)