During Tuesday's Lightning Round segment of Mad Money one caller asked Jim Cramer about Salesforce.com CRM. "Salesforce was up big today but still has more to go," Cramer replied.
We looked at CRM earlier this month on Dec. 3 and wrote that, "I have been looking at the charts of CRM for several years now and they remind me of a cat with nine lives as the uptrend continues and continues. Can CRM restart its uptrend again this time? I am not convinced and do not find enough technical clues to recommend a new long position just yet."
Let's check out the charts of CRM again.
In the updated daily bar chart of CRM, below, we can see that prices have been struggling this month. CRM is trading below the declining 50-day moving average line but remains above the rising 200-day line. The On-Balance-Volume (OBV) line still shows an irregular decline from late August telling us that sellers of CRM have been more aggressive.
The Moving Average Convergence Divergence (MACD) oscillator is below the zero line and only manages a cover shorts buy signal at this point in time.