Salesforce.com Inc. (CRM) has broken above price resistance and is looking to make news highs.
GAP REVIEW
On August 30, 2013, CRM gapped over price resistance supply at $47.00 on institutional volume and has held the gap up digesting the new price highs. Another positive note is this price high gap up has no negative price resistance to the left and is free to roam higher.
KEY LEVEL
Demand exists at $47.24 from the gap day low and there is no measurable supply to the left.
THE TRADE
Long at $50.25 and Stop under Gap Day Low at 47.00. Targets into $60.00 and $80.00
Disclosure: for more detailed guidance on this trade visit the Gap Swing Newsletter.
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