Salesforce Charts Indicate Robust Bullish Trend Ahead Of Q4 Earnings

Salesforce CRM will be reporting its fourth-quarter (Q4) earnings on Feb. 28. Wall Street expects $2.26 in EPS and $9.23 billion in revenues as the company reports after market hours.

The San Francisco-based company is known for its cloud-based customer relationship management (CRM) platform, helping businesses manage and analyze customer interactions and streamline sales, service, and marketing processes.

Here's what the price charts have to say about Salesforce stock.

Salesforce Stock Technical Setup Ahead Of Q4 Earnings 

The price chart setup of Salesforce stock indicates a robust bullish trend.

The stock is currently trading above its 5, 20, and 50-day exponential moving averages, indicating strong positive momentum. The eight-day simple moving average stands at $290.95, providing a Buy signal, and the 20-day and 50-day simple moving averages at $288.41 and $275.13, respectively, also support a Buy stance.

Furthermore, the 200-day simple moving average at $230.23 reinforces the Buy signal. The Moving Average Convergence Divergence (MACD) indicator, at 6.21, further supports a Buy position.

However, caution is advised as the Relative Strength Index (RSI) at 60.78 suggests that Salesforce stock is gradually heading towards overbought levels. Nevertheless, the Bollinger Bands (25) and (100) both indicate a Buy signal, with respective ranges of (280.81 – 292.09) and (213.8 – 279.22).

Investors may want to monitor the overbought condition indicated by RSI while considering the overall positive technical outlook for Salesforce.

Also Read: Salesforce’s Q4 Earnings Potential Bolstered by Generative AI and Market Optimism, Analysts Forecast

Salesforce Analysts Consensus Ratings

Ratings & Consensus Estimates: Consensus analyst ratings on Salesforce stock stand at a Buy currently with a price target of $278.38. Analysts ratings received over the last two months indicate mixed sentiments towards the stock’s valuation with analysts mostly rating the stock Neutral and Outperform. Price targets on the stock from February reviews indicates a 4% downside to a 9.7% upside.

Price Action: Salesforce stock was trading at $300.39 at the close of market day on Feb. 26.

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