Shares of Salesforce closed Friday at new all time highs. The company’s forward guidance: Salesforce Stock Is Trading at a Record. Analysts Are Gushing About Guidance. – MarketWatch, sparked this week’s powerful run. CRM gained just under 10% for the week on very heavy trade.
While the major indexes dipped to fresh September lows during Monday’s selling wave, CRM held above its previous week’s low.
Upside trade on Thursday and Friday was extremely heavy.
CRM’s 50D moving average has been very supportive since the 50/200D bull cross in mid July. The initial 2021 highs, set in February and matched in July, have also provided solid support.
CRM is far from overbought(weekly/daily MACD).
No position. Not a recommendation to buy, sell or hold.