Despite reporting results above estimates, the market was not convinced by the forecasts for the last fiscal quarter of the year.
Despite reporting results above estimates, the market was not convinced by the forecasts for the last fiscal quarter of the year. These figures were below the estimates of the main analysts, a “disappointment” that could lead to a healthy profit-taking (the stock has accumulated a revaluation of more than 40% since the lows of last March). The $283 level is the level to watch. Its perforation would trigger a downward breakout of its medium-term bullish channel, an event that could trigger a subsequent corrective leg towards $255, a level that practically coincides with its 200-session moving average ($258). Above, $297 (the last bearish gap) remains the level to reconquer.
Resistances: $285, $297, $312.
Supports: $265, $258, $255, $230, $210.
Targets: (Bearish) $258, $220 (Bullish) $310.
Trend structure in SALESFORCE:
- Short term: Bearish.
- Medium term: Neutral-bullish.
- Long term: Bullish.
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