Focus Stocks Broke Support

New York, February 22nd ( - Shares of, Inc. (NYSE:CRM) closed the trading session at $168.55 below calculated support at $169.09. The stock broke down technically, raising concerns as the move might trigger additional selling., 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 to manage their customer, sales and operational data.'s stock was trading in a well defined range with support at $169.09 and resistance at $178.91; given that this range was broken traders will be closely monitoring the stock's price action for clues of direction.

From a technical perspective, it can be expected that previous support becomes resistance, as the new range gets defined. However, $169.09 will remain in focus as's price action places the stock near the broken support. Traders will be waiting to see if it can bounce back and return to its previous range.

Traders wanting to establish a short position in can do so if the stock breaks the intraday low, or if the stock bounces back and selling materializes again at previous support of $169.09. However, if traders want to build a long position, the best entry point to do so is when the price action takes the stock back to calculated support.

TradersHuddle Search

Stock Search:

Site Search:

Recent Trading Ideas

Latest Partner Headlines

Stock Market

o Dow Jones 17,084.49 ▲33.74 (0.20%)
o S&P 500 2,014.89 ▲1.46 (0.07%)
o NASDAQ 4,830.47 ▲19.68 (0.41%)

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,084.49 Trade time:4:04PM EDT Value change:▲33.74 (0.20%)

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,014.89 Trade time:4:04PM EDT Value change:▲1.46 (0.07%)


Company ID [INDEXNASDAQ:.IXIC] Last trade:4,830.47 Trade time:4:04PM EDT Value change:▲19.68 (0.41%)
Copyright © 2013 All Rights Reserved.