Salesforce Stock Drops Below Key Levels Ahead Of Q4 Earnings – Is A Rebound Coming?

Salesforce Inc CRM will be reporting its fourth-quarter earnings on Wednesday. Wall Street expects $2.61 in EPS and $10.04 billion in revenues as the company reports after market hours.

The stock is up 2.76% over the past year, down 6.64% YTD.

Let’s look at what the charts indicate for Salesforce stock and how the stock currently maps against Wall Street estimates.

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CRM Stock In Bearish Territory Ahead Of Q4 Earnings

Chart created using Benzinga Pro

CRM stock, at $308.35, is firmly in bearish territory, trading below its five-day, 20-day and 50-day exponential moving averages (EMA). This suggests a strong downward trend, although slight buying pressure is emerging. The stock's eight-day simple moving average (SMA) of $316.35, 20-day SMA of $328.28 and 50-day SMA of $332.95 all signal a bearish setup, reinforcing the short-term weakness.

CRM remains above its 200-day SMA of $289.55, which provides a longer-term bullish signal.

Momentum indicators further highlight the bearish tilt. The Moving Average Convergence Divergence (MACD) sits at a negative 6.90, indicating negative momentum, while the Relative Strength Index (RSI) at 34.92 suggests the stock is approaching oversold conditions.

Investors should watch for a potential bounce if RSI dips further below 30, but for now, CRM stock remains under technical pressure, with resistance near its short-term moving averages.

Salesforce Analysts See 26.5% Upside

Ratings & Consensus Estimates: The consensus analyst rating on Salesforce stock stands at a Buy currently with a price target of $378.03. The latest ratings from Citigroup, Citizens Capital and BMO Capital imply a 26.57% upside for Salesforce.

CRM Stock Price Action: Salesforce stock was trading at $308.12 at the time of publication.

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