CRM looks to form double tops
CRM is one of the few stocks in my watchlist that has actually had a green week. After revisiting it seems to make sense.
- The stock fell to $252.19 (September 13), touched the 50 EMA ($252.25), and has been trending up since.
+ MACD line looks to cross the signal line
+ RSI is over 50
- Fibonacci retracements has next level of resistance at $277.11
Some of my other stocks I have charted, in the SPY, look to make one more move up and I am expecting a longer down fall. The potential of CRM double tops offer some level of reassurance that my analysis is correct.
- The stock fell to $252.19 (September 13), touched the 50 EMA ($252.25), and has been trending up since.
+ MACD line looks to cross the signal line
+ RSI is over 50
- Fibonacci retracements has next level of resistance at $277.11
Some of my other stocks I have charted, in the SPY, look to make one more move up and I am expecting a longer down fall. The potential of CRM double tops offer some level of reassurance that my analysis is correct.
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