[ Jump to the 2023-08-20 update ]
Nearly a month ago we saw Salesforce’s stock, CRM, leaping high, after a beautiful consolidation right on its best respected daily and weekly moving average support lines.
But that was it.
Not only did CRM not have the fuel to continue higher, but also it fell through its best respected support lines.
On the daily, the stock pondered for a day just above support, and rethought the direction for 3 additional days just below it, before CRM eventually decided to continue south:
On the weekly the price action was more decisive:
Let’s keep watching how CRM’s price action will fold.
2023-08-20 Update
CRM continued its downtrend after breaking the support lines and kissed the $200 price level.
Daily chart:
Weekly chart:
