Bottom Fishing Salesforce (Technical Analysis)


  • This is a technical analysis article. Salesforce, Inc. has killed portfolio performance for over a year now and still apparently has not hit bottom. It should during this bear market.
  • Usually bottoms are identified by exhaustion selling, when the news is so bad that the last holdouts finally dump their shares on the market.
  • For over a year now, we have seen orderly selling as portfolio managers were steadily unloading their positions on the market.
  • Now comes the reorganization, and top executives are leaving. Could Salesforce be slashing headcount like Twitter and others?
  • The final selloff should take Salesforce to its ultimate bottom. Then the bottom fishers should come in, because its core business is still good.

Scuba divers couple near beautiful coral reef surrounded with shoal of coral fish and three yellow butterfly fish

Tunatura/iStock via Getty Images

The bottom fishers are searching for stocks like Salesforce, Inc. (NYSE:CRM) as they approach their bottom. Portfolio managers were unloading CRM for over a year as it dropped from $312 to $130. Now it appears to be in

Waiting for buy signals

Salesforce Looking For A Bottom (

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Short position through short-selling of the stock, or purchase of put options or similar derivatives in CRM over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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