Rising Narrowing Wedge(s)CRM has fallen quite a ways from the latest narrowing rising wedge. Price can fall to a support level within the wedge, but then there is another rising wedge in the yearly chart and the bottom trendline may have been barely broken, but is questionable (orange question mark is on the candle that may be considered a break of the bottom trendline). Rising wedges are a long term pattern and not valid until the bottom trendline is broken. They are considered bearish. CRM broke upward from the first rising wedge in this chart and did a good job on trying to break upward from the second rising wedge (yellow arrow).
This can be a long slow process and the market is not friendly as of late. When price breaks on support level, I focus on the next one and set alerts a long the way.
Oversold on daily RSI, not on weekly and not even close to oversold status on monthly.
No recommendation.
Short interest is very low which is a positive thing in my opinion. Negative volume is dipping down a bit which could indicate waning interest.
The Negative Volume Index (NVI) is a cumulative indicator, developed by Paul Dysart in the 1930s, that uses the change in volume to decide when the smart money is active. The NVI assumes that smart money will produce moves in price that require less volume than the rest of the investment crowd.
NVI rises on days of positive price change on lower volume, NVI falls on days of negative price change on lower volume, and NVI is unchanged on days of higher volume no matter what the price action.
On-balance volume (OBV) is a momentum indicator that measures positive and negative volume flow. The theory being that when volume increases or decreases dramatically, without significant change in an issue's price, at some point the price "springs" upward or downward.
