Salesforce.com, inc. (CRM) is acting much better after being stuck in a right range for most of April. The stock broke a mini downtrend around $135 a week ago and is flagging very nicely now. I am long tier one in here and will add above the high of the flag pattern. It is holding up well and if volume takes it through $142 it should see new highs at some point.
The problem we have run into with some of these cloud stocks is earnings coming soon (I don’t like to take stock into earnings), bit CRM earnings are next month so we have some time. The stop on the trade would be $136.
*DISCLOSURE: Long CRM
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