The stock is trying to settle below the $265 level.
The Dow component has gapped through new support, signaling a failed breakout and potential long-term double top.
“Salesforce (CRM) reports 3Q22 on 11/30. Our survey points to a strong qtr w/ 76% of partners who met/beat targets in 3Q, well above 55% in 2Q. In turn, 83% see forward qtr pipeline growth trending in-line or higher, the highest figure in 7 Qtrs. Our due diligence on gov’t was also strong w/ 3Q growth accelerating vs. 2Q. While FX could be a modest governor, we expect a solid beat & raise,” noted J. Derrick Wood, equity analyst at Cowen.