Salesforce.com Winds up for the Pitch

After surging to new highs in February, Salesforce.com moved into a consolidation as volatility contracted. Notice that the Bollinger Bands narrowed over the last few weeks the BandWidth moved to its lowest level since mid October. Even though a volatility contraction does not give us directional clues, the stock did hit a new high in February and the big trend is clearly up. If the bigger trend is the dominant force, then the stock has a bullish bias and the odds favor an upside breakout. A move above 70 would trigger a breakout and signal a continuation of the bigger uptrend. 

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