Salesforce closed at $215.44 yesterday, after four straight days of gains

Yesterday at a glance: after closing Thursday at $209.91, Salesforce closed at $215.44 yesterday after climbing to $216.15 and dropping back down.

Nevertheless, following a previous reading of 0.3%, Core Durable Goods Orders in United States released yesterday at 12:30 UTC fell short of the 0% figure expected by analysts with an actual reading of -0.2%.

At the same time, United States Core PCE Price Index (MoM) (Apr) released yesterday at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3. Fresh CFTC Crude Oil speculative net positions data from United States came out at 193,100.

Salesforce chart analysis: after reaching the known resistance zone beginning at $215.76, Salesforce price action retreated approximately 32 cents. Trend and momentum analysis indicates that investors are seeking long positions as Salesforce price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Price action overcame a known Fibonacci resistance level at $213.32 by around $2.12 with prices hammering out a $212.55 – $216.15 session range. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $218.64, thereby suggesting that Salesforce is becoming overvalued.

Overall, while Salesforce has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

This rally in Salesforce's share price coincided with other technology stocks as Intel traded at $29 after closing yesterday's trading day at $27.4 (up 5.84%). Qualcomm was up 6.09%. Accenture plc Class A (Ireland) added 4.06% to its value, and traded at $303.6.

The stock has been trending positively for about 3 months. Having soared to a high of $215.44 approximately a day ago, the customer relationship management company is now trading 2.57% lower.