CRM may be providing a short-sale opportunity on this earnings-related bump up into resistance at around the 65-day exponential moving average around 145 and the 50-day simple moving average at around 152. We would view this as a short-sale zone where a short-sale position could be initiated using a max 3-5% upside stop. This Punchbowl of Death formation is also confirmed in other "big stock" cloud names like FFIV and VMW, but may take a few days to pan out. However, we are willing to short this ourselves right here, using the 152 price level as a quick stop.
SSS - Salesforce.com (CRM) Early Stages of a Possible POD
|Published:||18 May 2012 13:51 ET|
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