Salesforce.com Is Close to the 200 Day Moving Average

Published on Monday, 25 June 2012 09:28 Written by TradersHuddle Wire

New York, June 25th (TradersHuddle.com) -Salesforce.com, Inc. (NYSE:CRM) closed the trading session at $137.11 near its 200 day moving average set at $131.22. Salesforce.com's price action is just above this key support level, grabbing traders' attention for a possible 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.

The latest price action range, defined by a peaks and troughs algorithm, places calculated support at $125.25 and resistance at $142.47. These levels will provide insight for the stock's latest price dynamics.

Traders wanting to establish a position on Salesforce.com will look for evidence of buying near the 200 day moving average, before opening the position as close as possible to this key technical level. Also, they need to consider the latest range defined by the calculated support and resistance levels for insights on other key levels that might have an effect on future price movements.