Chair

Wednesday

Resistance

Billion

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Salesforce, Inc. (NYSE: CRM) earnings show rising profit margins amid cost cuts.&nbsp;</a> </li> 
 <li> <span>2</span> <a>CRM stock price consolidated near the previous support zone to wait for the quarterly results.&nbsp;</a> </li> 
 <li> <span>3</span> <a>Salesforce Company declared its quarterly results on Wednesday which has led to a positive impact on the stock price and the price surged from the bottom.</a> </li> 
</ul> 
<p>The CRM daily chart shows that Salesforce stock price slipped from the top breaking below the key moving average, the 50 EMA is to consolidate near the recent support zone. Analysts believe that CRM stock price may again thrust upwards to reach the $250 mark soon. Analysts speculate that if CRM shares break out of the primary resistance level of $224.5, then it may reach the $250 mark.&nbsp;</p> 
<p>Salesforce, Inc., (CRM Stock) declared its quarterly results on Wednesday which impacted the stock price positively and the stock has shown bullishness at the lower levels after a consolidation. “Our transformation drove our strong second quarter results, delivering revenue of $8.6 Billion and record GAAP and non-GAAP operating margins,” said Marc Benioff, Chair and CEO of Salesforce.</p> 
<p>Salesforce’s fiscal second quarter revenues stood at an 11% year-over-year jump. Additionally, the company raised its 2024 revenue outlook to $34.8 Billion, beating Wall Street’s estimates of $34.66 Billion. The company’s adjusted income from operations came in at $2.72 Billion, outperforming estimates of $2.42 Billion, gaining a 77% year-over-year jump.&nbsp;</p> 
<p>Moreover, investors in Salesforce, Inc. (<a href="https://www.thecoinrepublic.com/2023/08/05/salesforce-stock-price-prediction-crm-aug-23-price-targets/" rel="noopener noreferrer nofollow">NYSE: CRM</a>) seemed to be bullish after the results as the stock has gained more than 4% this week in two sessions and formed a bullish price action at the support zone which might attract more buyers and the price may soar again at higher levels.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-salesforce-stock-price-shows-bullishness-at-the-support-level-strong"><strong>Salesforce Stock Price Shows Bullishness At The Support Level</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/i5dUXw7ICg3_wQZdqYyAIsq-gD-4ZCJmfx-5nDdzNrt3HJa72ElRrW8xq1Rzdbi5zyVs9vpuf0HMRTiaL937OZFB-tM6VW_UAOPJwYuKVyXaqCwEvJKZfnp4OEkU8t25b3ibjkrIhNKfqtG8KgKg21E" alt="Salesforce Stock Price Forecast: CRM To Reach $250, Here’s How?"> 
  <figcaption class="wp-element-caption">
    Source: Salesforce 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The short-term outlook of the analysts indicates that the price is forming a bullish <a href="https://www.thecoinrepublic.com/2023/08/05/salesforce-stock-price-prediction-crm-aug-23-price-targets/" rel="noopener noreferrer nofollow">price action</a> near the support zone which might invite buyers to push the price higher again. The Analysts say that the price trend is positive in the long-term and the short-term is aligning with the same after a pullback. The price may try to maintain its trend until it breaks below the $200 rebound level which might turn the short-term trend bearish.</p> 
<h3 class="wp-block-heading" id="strong-rsi-and-macd-indicators-showing-bullishness-over-the-daily-chart-strong"><strong>RSI And MACD Indicators Showing Bullishness Over The Daily Chart</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/-AB_EiOnwG6W_kGfXw7-8_uB6iM0Apl5M9lYPPfAm33e2ExGx0Az1zneL25O3R8SfGbcdNe5cRa3T1iQe-_N2CZflSBhsJblrPauCL2MFaPoLad9-RPXzSzRdRlzQLZnijhWupvwsSotauLZfxi_amU" alt="Salesforce Stock Price Forecast: CRM To Reach $250, Here’s How?"> 
  <figcaption class="wp-element-caption">
    Source: Salesforce 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The Technical indicators opinion rating including RSI and MACD for the stock indicates a 40% buy with a weakening short-term outlook on maintaining the current trend. The long-term indicators are optimistic and fully support the continuation of the ongoing trend.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Salesforce, Inc. (CRM Stock) reported strong quarterly results and raised its 2024 revenue outlook, boosting its stock price by more than 4% this week. The company achieved revenue of $8.6 Billion and record operating margins in the second quarter. Analysts are bullish on CRM stock and expect it to reach the $250 mark soon if it breaks out of the resistance level of $224.5. The price trend is positive in the long term and the short-term is aligning with it after a pullback and a bullish price action near the support zone.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $204.06 and $192.5.</li> 
 <li><strong>Resistance levels:</strong> $224.5 and $234.2.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Salesforce Stock Price Forecast: CRM To Reach $250, Here’s How?

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