Watching a StruggleIt looks like a battleground on this chart.
Price has pierced the bottom bollinger band set on an 80 moving average so there is a lot of selling pressure. Price likes to be inside those bands, but in a bear market, that can be a short signal. I am not sure what kind of market we are in. I do think this sector is on the bearish side though. So not sure which way the break of the bottom band points, bullish or bearish. Short interest is not high. Negative volume and On Balance volume are both high. If this sector was bullish, then I may think the break of the band is on the bullish side.
The top looks ugly )o: Resistance directly over price from the prior gap up.
I think they beat earnings recently?
CRM broke up and out of a bullish falling wedge recently, Made a run to the upside, only to return to the battlefield.
Price did not fall an awful lot today like some others in this sector. Positive sign, I would think. Making it to the end of a deep pull back seems to take so much longer than making it to the top.
Price has pierced the bottom trendline of the bearish rising wedge that CRM broke up and out of a while back when it had a fantastic run to the upside. But the rising wedge was still sitting down there, waiting on CRM )o: I haven't seen this happen often, price breaking up and out of a RW. Price seems to be fighting hard to stay out of that rising wedge it left behind. I hope that a H&S is not forming at the end of that channel. Kinda slopey right now. OUCH!
I have been watching this one off and on for a while. It just did not look good when it started pulling back. I have learned the hard way, not every dip is a buy and sometimes a pull back can slowly end a trend. )o:
There appears to be a channel down as well. A channel down is, well down, until price breaks up and out of it, which we all know happens.
The 200 day moving average is tilting up. The 50 and the 100 do not look so hot. Long term, I guess this is still okay. The 100 is over the 50 and should be vice versa. The 50 is trying to cross down through the 200. Some call that a "death cross". It has not quite made it through the 200 yest
This one is not quite to a place that makes me want to give snatch it up yet. Mr Market has been cruel to this sector as well. I would imagine CRM is getting tired by now )o: Wore me out just doing this chart..lol
No recommendation. Everything changes.
Looks like a close football game, and you have money on the team that is behind by 3. But their defense is worn out, and the team that is winning is on the field with 2 minutes left in the game )o:
