$CRM setting up for more gains?

$CRM setting up for more gains?


June 2023


Alex Cole

Is $CRM ready to move higher?

Salesforce, $CRM has been in a strong "Go" trend since January.  We saw price roar to highs at the end of last month near $225. Unfortunately, this proved to be resistance from prior highs in March of 2022 and investors perhaps saw an opportunity to take profits.  Price has corrected mostly sideways since then and over the past few weeks we have seen the GoNoGo Oscillator fall to test the zero line.  With Momentum stuck at the zero line for almost 2 weeks we have seen the climbing grid of GoNoGo Squeeze rise to its Max showing little directional pull.  We know that after periods of prolonged volatility compression can come swift moves and now we see the GoNoGo Squeeze being broken into positive territory.  Volume is still heavy as we can say that momentum is resurgent in the direction of the "Go" trend.  Perhaps this will give price the push it needs to break to new highs.