Chart of the Day – Salesforce.com, Inc. (CRM)

by John Lansing | October 6, 2010 11:06 am

 

The Chart of the Day is Salesforce.com, Inc. (NYSE: CRM[1]). The stock appears to be in a bullish continuation wedge, sometimes called a “bullish pennant.”

We are looking for CRM to break above the downtrend line, which it closed above yesterday. If the stock moves above $114.91, buy it with a stop loss at yesterday’s lows of $112.42.

You will be risking $2.49 with this trade for a potential profit gain of $15 if CRM hits our target.

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Endnotes:
  1. CRM: http://studio-5.financialcontent.com/investplace/quote?Symbol=CRM
  2. Click here to sign up now!: http://investorplace.com/order/?sid=DH4200

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