SalesForce ends hopes of advancing - Analysis - 02-12-2022

Economies.com
1 month ago

SalesForce's stock (CRM) skidded in the intraday levels after announcing its co-CEO Bret Taylor will resign in January, while also reporting forecast-beating profits and earnings, however sales missed estimates, with the stock tumbling 8.27% in the last session, or 13.25 points, settling at 147.00, with trading volumes surpassing 33.7 million shares, above 10-day averages of 10.1 million shares.  

 

Technically, the stock is exposed again to negative pressure from the 50-day SMA, while trading alongside the main downward trend in the medium term, with negative signals from the RSI.

 

Therefore we expect more losses for the stock, targeting the pivotal support of 137.60, provided it settles below 154.73. 

 

Expected trend for today: Bearish 

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