Salesforce.com has followed an upward-sloping since early June, making successively higher highs and higher lows. The two most recent peaks were all-time highs above its pre-crash records. Now it’s pulled back to that .
Second, the current low is very close to the $195.72 level where CRM topped out in February. Has old resistance become new support?
Overall, this is a pretty conventional trend-following setup. It resembles Netflix on June 30, pulling back to an old high and before . CRM reports on August 25.