CRM – Could SalesForce.com Double in Price Again?

Since its 4-1 stock split back on April 17th 2013, Salesforce.com (symbol: CRM) has seen a 50% gain in its share price.

salesforce.com, inc. provides enterprise cloud computing solutions to a profusion of different businesses and industries across the globe. Their services include Sales Cloud, a system that facilitates businesses in the expansion of their sales pipelines, closing deals, improving sales productivity, and in gaining business insights; Marketing Cloud for its customers to listen to conversations taking place on public social networks, such as Facebook, Twitter, and blogs; and Salesforce Platform, which enables its customers, independent software vendors, and third-party developers to develop applications in many different programming languages like Java and Ruby. CRM also offers professional services that include consulting, deployment, and training services to its customers that facilitate the adoption of its social and mobile cloud solutions. salesforce.com, inc. sells and markets its services on subscription basis primarily through its direct sales force comprising telemarketing, global consulting firms, systems integrators, and regional partners. The company was founded in 1999 and is headquartered in San Francisco, California.

Salesforce.com, Inc
The Landmark @ One Market
Suite 300
San Francisco, CA 94105
United States – Map
Phone: 415-901-7000
Fax: 415-901-7040
Website: http://www.salesforce.com
Investor Relations: by phone +1-415-536-6250 or by email investor@salesforce.com

CRM 5 year chart

There appears to be support at the $43 level, and after a 50% increase, we would be looking for a pull back before entering, even if it was just at the $55 area.  Because of this, we see any long term play as something that should be accumulated gradually.  We do not see a valid short play on the 5 year chart, although that doesn’t mean there isn’t one.

crm chart bullish 1 year

The 1 year chart shows some trend line support as well as a level at the $52 area.  With a stop loss below $50 we would need and exit above $89 to make a sound trade.  However, there is a potential short if the stock breaks its trendline, but we would prefer to look at a shorter time frame for this, as the stock has been very bullish for some time.

CRM-1 month chart bullish

The 1 Month Chart also seems bullish, and we would be looking here for a sign for a quick short or pullback for long entry if the trendline breaks.  The stock is hitting its all time highs at the same time as the overall market.  However, it has also shown strength in the face of market weakness, which is alway a bullish sign.   That being said, we generally prefer to wait for a pullback before entering or gradually accumulate shares by trading across different time lines.  Eitherway, please know we do not offer advice, we simply point out opportunities that may fit in to your own trading strategies.

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