Stocks
CRM Stock Gains 1.94%, But Momentum Slows Down
Salesforce (CRM) stock rose by 1.94% on the NYSE to $247.72, but its momentum is slowing down according to technical analysis.
The shares are still in an uptrend, with prices above both their short-term and medium-term moving averages (230.63 and 198.61), indicating that buyers who entered over the past month or two are still making a profit on average.
However, the slope of the SMA20 is only 5.99% over 5 days, which confirms the short-term trend but suggests that prices are not rising with conviction.
The RSI(14) at 64.9 and Stochastic %K at 70.4 show neutral momentum, while the MACD histogram is negative, indicating that the pace of the move is losing energy.