Earnings Play Salesforce com

Blue avatar for FOREX.com guest contributors
By :  
May 27, 2020 12:48 PM
3 views
Blue avatar for FOREX.com guest contributors
By :  
On Thursday, after market, Salesforce.com (CRM) is expected to announce first quarter EPS of $0.70 compared to $0.93 a year ago on revenue of approximately $4.8B vs. $3.7B last year. The company develops business software and on May 13th, the Board of Directors appointed Gavin Patterson as the company's new President and Chief Revenue Officer.    

From a chartist's point of view, Salesforce.com's stock price has just dipped below the lower trend line of an ascending wedge pattern that price has been rising within since mid-March. Price was stopped at the $183.00 resistance level twice in May, where the second peak closed below the first, a bearish signal. The RSI has crossed to the downside of a rising trend line that the indicator has been holding above since mid-March. Price may fall to the $165.00 support level and pierce it on the way to $155.00. If price can manage to get back above the lower trend line of the ascending wedge pattern and reach the $183.00 resistance level, then we may see a run towards record highs around $196.00.          



Source: GAIN Capital, TradingView
Related tags: Equities earnings

Latest market news

Russell 2000 leads markets higher, despite another strong jobs report
Yesterday 06:19 PM
Nasdaq 100 analysis: Goldilocks NFP takes NDX to 14-month highs
Yesterday 05:29 PM
Earnings This Week: Wizz Air, GameStop and NIO
Yesterday 01:53 PM
Reddit stocks: what meme stocks are trending?
Yesterday 12:00 PM
EUR/USD, AUD/USD and USD/CAD forecast – Forex Friday
Yesterday 10:00 AM
FTSE 100 analysis: Up on US debt ceiling vote as Dechra backs takeover
Yesterday 07:10 AM

Open an account in minutes

Experience award-winning platforms with fast and secure execution.

Open account

Web Trader platform

Our sophisticated web-based platform is packed with features.
Learn more

Economic Calendar

view more

Latest Equities articles

An office of traders with multiple trading screens
Earnings This Week: Wizz Air, GameStop and NIO
By:
Joshua Warner
Yesterday 01:53 PM
    Close-up of stock market board
    Reddit stocks: what meme stocks are trending?
    By:
    Joshua Warner
    Yesterday 12:00 PM
      Research
      FTSE 100 analysis: Up on US debt ceiling vote as Dechra backs takeover
      By:
      Joshua Warner
      Yesterday 07:10 AM
        Research
        FTSE 100 Analysis: British Land loses blue-chip status after 20 years
        By:
        Joshua Warner
        June 1, 2023 07:10 AM

          StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.

          StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.