Salesforce: Trading SidewaysSalesforce has struggled to gain clear momentum in either direction over the past two weeks, which has resulted in mostly sideways trading. Looking ahead, we continue to anticipate renewed downward pressure in the near term, which could push the stock into our blue Target Zone between $187.75 and $150.42, thereby completing the broader correction of blue wave (II). After this move, we expect a new upward trend to emerge, which makes the blue zone an attractive entry point for long positions. For risk management, a stop can be placed 1% below the lower boundary of the zone. However, there remains a 36% chance that CRM will not reach our Target Zone and instead will break out directly above resistance at $312, potentially surpassing the higher $378.16 level as well. In that scenario, we would place the stock in a broader (green) upward impulse.
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Salesforce: Further ProgressDue to continued downward pressure, Salesforce has made further progress in realizing our primary scenario. During the ongoing green wave , we still expect the stock to sell off below the support at $274. However, if the price imminently climbs above the resistance at $312, we will have to reconsider the structure of the ongoing decline and reckon with a magenta five-wave downward move. We currently assign this alternative scenario a 36% probability.
Salesforce: Wave b Top Established!On December 4, CRM peaked briefly, hitting a new record high at $378.16. Since then, the price has been unable to revisit this level, initiating a first downward impulse. Therefore, we now consider the prominent wave b top as established and are preparing for a significant sell-off, with extension targets below the $274 support. Thus, the still ongoing correction should continue.



