- Salesforce Inc. price decreased by 1.72% over the last 24 hours.
- The Salesforce Inc., ( NYSE: CRM ) 52-week price range is $126.34 – $225.
The Salesforce Inc. price chart shows that the average volume is 7.43 Million and the current volume is 4.25 Million. The volume graph shows that the current volume is below the average volume line and there is a window if volume surges with momentum, the stock price may achieve a breakout soon.
This month, the stock performed well as it was up by 0.76%. However, CRM’s price is up by 52.74% over the last six months. Moreover, Salesforce Inc. (NYSE: CRM) stock’s year-to-date return is positive with an increase of 55.44% and its overall 1-year return is positive with an increase of 21.10%.
The market capitalization of CRM stock is $204.67 Billion and the total revenue is $31.35 Billion. Moreover, the stock’s basic EPS is $0.38 and the price-to-earnings ratio is 562.98.
Salesforce reported an average increase of 1.4% in earnings per year, while the earnings of the Software industry are up by 20.1% per year. The annual revenue growth rate has been 21.1% on average. Salesforce’s net margins are 1.2%, and its return on equity is 0.7%.
Source: www.simplywall.st
Salesforce has $57.4 Billion in shareholder equity and $9.6 Billion in debt, which gives it a debt-to-equity ratio of 16.7%. Its total liabilities are $36.1 Billion and its total assets are $93.5 Billion. Salesforce’s interest coverage ratio is 10.3, and its EBIT is $3.0B. It has $14.0 Billion in cash and short-term investments.
Salesforce Inc., Technical Analysis in 1-D Timeframe
The price action shows that on March 10th, the stock price took a rebound from $171.20 which was a major support, and the CRM price surged upwards by making higher highs and higher lows within a span of 4 months, and also by June 1st the price attained a high of $225.
However, the price afterward is hovering and consolidating in a range of $205 to $220. The price followed the trendline support and resistance very well and over the daily time frame on the chart, it is presumed that a bullish pennant pattern was formed.
In a bullish pennant pattern, a breakout happens when the price surges above the upper trendline. As major EMAs are supporting the trend upwards, we might see a breakout in the upcoming weeks and a bullish rally upwards.
Source: CRM.1D.NYSE by TradingView
At the time of publishing, Salesforce Inc. (NYSE: CRM) price is trading above the 50, 100, and 200-days EMAs (exponential moving average), which are acting as support levels. However, the stock price remains below the 20 EMA. The price is consolidating and this might be a sign that bulls are accumulating to thrust upwards.
More upward movement is expected in the Salesforce Inc. stock in the forthcoming weeks ahead.
Source: CRM.1D.NYSE by TradingView
The current value of RSI is 49.81 points. The 14 SMA is slightly above the median line at 52.81 points which indicates that the price is consolidating and that it might choose a direction soon.
The MACD line at 0.8559 and signal line at 1.20 are above the zero line and as the gap between the two is closing suggesting that a crossover is imminent. This also hints at a possible bullish crossover.
Summary
The Salesforce Inc., price indicates that the sentiments and perspectives of investors and traders regarding the CRM stock are bullish on the 1D time frame. CRM’s share price reflects optimistic views at the moment. Moreover, the CRM stock is in a bullish state as major indicators – MACD, RSI, and EMA, are giving bullish signals for the CRM stock over the daily time frame.
Technical Levels:
- The nearest support: $201.45 and $186.69.
- The nearest resistance: $219.39 and $235.65.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
