Salesforce.com Near the 50 Day

Published on Friday, 20 January 2012 09:24 Written by Christian Paolinetti

New York, January 20th (TradersHuddle.com) - Shares of Salesforce.com, Inc. (NYSE:CRM) closed the trading day at $114.51 close to its 50 day moving average currently set at $112.52. Salesforce.com's price action is just above this important support level translating into a trading opportunity.

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

Looking at peaks and troughs horizontal support and resistance levels, we can see current calculated support at $102.27 and calculated resistance at $107.70. These levels should also be evaluated by traders when planning their trades, as they provide an insight into the latest price action.

Traders wanting to establish a position on Salesforce.com will be looking at the price action for evidence of buying near the 50 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.