Momentum

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Salesforce Inc. (NYSE: CRM) stock price fell 1.62% in intraday on September 12 and currently trades at $221.39.&nbsp;</a> </li> 
 <li> <span>2</span> <a>CRM stock price is losing momentum while attempting to break above the previous high.&nbsp;</a> </li> 
 <li> <span>3</span> <a>CRM stock might undergo correction if the price slips below 50-EMA.&nbsp;</a> </li> 
</ul> 
<p>The CRM daily chart illustrates that the stock is losing momentum which might invite short-selling from the upper levels. However, the price still trades in the bullish territory and the bulls may try to keep the game on their side by adding more volume to sustain the price at the higher levels.&nbsp;</p> 
<p>The price analysis shows that the CRM has been one of the high-value stocks that has been yielding a 63.9% year-to-date return. The bulls have maintained control with some small drawdowns in the short term. The stock price has kept gaining steadily for the last three quarters.&nbsp;</p> 
<p>The exponential moving averages are showing a golden crossover. Moreover, the price maintained itself above the 50-EMA indicating a strong trend prevailed. Recently, the price fell below the 50-day EMA but got the buyers’ support and surged again after a short accumulation.&nbsp;</p> 
<p>The analysts offering a price projection for 1-year have a more bullish outlook. The analysts see a potential of 53% which could take the price to a high of $340. On the other hand, the bearish outlook stands at a drawdown of 28% from CMP.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="547" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-345-1024x547.png" alt="CRM Stock Price Analysis: Salesforce Stock Might Face Correction?2" class="wp-image-167565" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-345-1024x547.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-345-300x160.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-345-768x410.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-345-750x401.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-345-1140x609.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-345.png 1452w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   &nbsp;Source: barchart.com
  </figcaption>
 </figure>
</div> 
<p><a href="https://www.thecoinrepublic.com/2023/08/31/salesforce-stock-price-forecast-crm-to-reach-250-heres-how/" target="_blank" rel="noreferrer noopener">CRM stock</a> option-chain analysis states that the current implied volatility in the market is 23.99% with a decrement of 0.11% in the last trading session. The at-the-money strike price has 930 open contracts on the PUT side and 480 open contracts on the CALL side indicating the dominance of buyers at the current level.</p> 
<h2 class="wp-block-heading" id="strong-salesforce-stock-price-shows-loss-of-buying-momentum-strong"><strong>Salesforce Stock Price Shows Loss of Buying Momentum</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh3.googleusercontent.com/U5a3Gjyw5OGxvQx-wsRXACm3C5QwTBzMkN1L3YHU3Ham5o6LuOQ_la8hxQTElxDHke4rUNE4Pib6swGOLWz4VoaQlRWFx7K_RNgfODLQC_3TQUaqYFDD63Yva2fNxT35haWY1UXOvqpQRwDoUN8g8A" alt="CRM Stock Price Analysis: Salesforce Stock Might Face Correction?2">
  <figcaption class="wp-element-caption">
   Source: Salesforce 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>The CRM stock price currently trades at $221.66 with a decline of 1.62% in intraday on Tuesday, September 12th. The price is observed to be losing momentum which might invite the sellers to accumulate at the top.<br><br>The price trend also faces an upper trendline resistance which the buyers must surpass in order to surge higher and achieve a mark of $250.&nbsp;</p> 
<p>The price has immediate support of 50-EMA; the breakdown of which may decline the price to test the lower support levels and 200-day EMA. The price might undergo a short-term correction phase as it might get stuck between the 50 and 200-day EMA.</p> 
<h3 class="wp-block-heading" id="strong-rsi-and-macd-indicators-shows-fading-bullish-momentum-strong"><strong>RSI And MACD Indicators Shows Fading Bullish Momentum</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh5.googleusercontent.com/3d0Cuc-3OOJyWIYIY3F_SfkkVqZb3HK57if3-B1I3RLLhFOtLns37tMi6T4p0akF5dGRJuLWLvR55MoNQ5FI1_lv8otX4p-_f-loMaTn9XFXU5U9WMWAigkWHUYhM7pKP5mRJVh-MaX8SLzMQBfQwQ" alt="CRM Stock Price Analysis: Salesforce Stock Might Face Correction?2">
  <figcaption class="wp-element-caption">
   Source: Salesforce 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>The technical indicators opinion rating including RSI and MACD for the stock indicates an 88% “buy” with a weakening short-term outlook on maintaining the current trend. The long-term indicators are optimistic and fully support the continuation of the ongoing trend.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/08/31/salesforce-stock-price-forecast-crm-to-reach-250-heres-how/" target="_blank" rel="noreferrer noopener">CRM stock</a> has gained 63.9% this year. The stock is in a bullish trend but faces resistance from an upper trendline. The price trades near the 50-EMA which acts as a support. The analysts are optimistic about the stock, predicting a maximum upside of 53%. The price may decline to the 200-EMA if the support breaks. The price currently trades at 221.66, down by 1.62% on Tuesday. The price may lose momentum and undergo a correction phase.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $204.05 and $192.55</li> 
 <li><strong>Resistance levels:</strong> $224.75 and $234.25</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

CRM Stock Price Analysis: Salesforce Stock Might Face Correction?2

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