Salesforce closes at $198.37, increasing by $2.43 and adding one more to its four straight day of gains

Friday at a glance: the cloud CRM provider gained 1.24% and stayed at $198.37 levels.

Salesforce could be slowing down soon; it is getting close to the resistance line and is now at $199.59, only $1.22 away. Crossing the resistance line could, however, suggest that further gains are ahead. Despite posting gains on Friday, Salesforce slid below its 10 day Simple Moving Average at $195.87 during the last session — an early indicator that a negative trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $201.33, thereby suggesting that Salesforce is becoming overvalued.

After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest Salesforce is set for a reversal in the coming days.

A look at other technology stocks also showed bullish price action as Intel traded at $31.06 after closing Friday's trading day at $29.86 (up 4%). Intuit gained 3.45%, as it traded at $443.95.

While Salesforce was bullish Friday, the following technology stocks underperformed: Sony Group Corporation falls 5.7% Friday to close at $95.09.

Furthermore, the market is looking at United States ISM Manufacturing PMI (Apr) will be released tomorrow at 14:00 UTC.

The stock has been trending positively for about 2 months. This year has been a bright one for the cloud CRM provider after trading as low as $128.27 and going on to appreciate by 48.05% year to date.