Salesforce.com Stock Forecast
Red day on Tuesday for Salesforce.com
(Updated on Jul 02, 2024)
The Salesforce.com stock price fell by -0.0078% on the last day (Tuesday, 2nd Jul 2024) from $256.21 to $256.19. During the last trading day the stock fluctuated 1.44% from a day low at $254.06 to a day high of $257.73. The price has risen in 7 of the last 10 days and is up by 11.15% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -625 thousand shares and in total, 5 million shares were bought and sold for approximately $1.31 billion.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $258.83 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -18.91% during the next 3 months and, with a 90% probability hold a price between $159.41 and $209.88 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CRM Signals & Forecast
The Salesforce.com stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $249.60 and $253.72. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 17.51%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Salesforce.com stock
On the downside, the stock finds support just below today's level from accumulated volume at $236.62 and $234.44. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Salesforce.com finds support just below today's level at $236.62. If this is broken, then the next support from accumulated volume will be at $234.44 and $218.01.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.67 between high and low, or 1.44%. For the last week, the stock has had daily average volatility of 2.69%.
Our recommended stop-loss: $246.66 (-3.72%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (CRM) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Salesforce.com Inc to open at $255.99, and during the day (based on 14 day Average True Range), to move between $248.92 and $263.46, which gives a possible trading interval of +/-$7.27 (+/-2.84%) up or down from last closing price. If Salesforce.com Inc takes out the full calculated possible swing range there will be an estimated 5.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $269.83 (5.32%) than the support at $236.62 (7.64%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Salesforce.com Inc stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.823 Buy Candidate Unchanged
Predicted Opening Price for Salesforce.com Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $255.99 ( 0.0768%) | $256.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRM
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 259.66 | 1.36% |
| R2 | 258.26 | 0.81% |
| R1 | 257.40 | 0.470% |
| Price | 256.19 | |
| S1 | 254.59 | -0.624% |
| S2 | 253.73 | -0.96% |
| S3 | 252.32 | -1.51% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 272.90 | 6.52% |
| R2 | 271.62 | 6.02% |
| R1 | 269.83 | 5.32% |
| Price | 256.19 | |
| S1 | 236.62 | -7.64% |
| S2 | 234.44 | -8.49% |
| S3 | 218.01 | -14.90% |
CRM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jul 09, 2024 | Jul 25, 2024 | $0.400 | 0.156% |
| 2 | Mar 13, 2024 | Mar 13, 2024 | Apr 11, 2024 | $0.400 | 0.134% |
FAQ
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