Salesforce fills gap and tags major support

Gareth Soloway Verified Investing

Shares of Salesforce, Inc (CRM) fell again yesterday, making a new multi-year low. Investors have been hammered in this stock, now down 55% since the beginning of 2025. However, there may be signs of a major bounce coming.

Salesforce has been getting crushed with other software stocks. Worries continue to mount that AI can kill off software stocks, thus investors are running for cover. However, history shows us this may be a near-term overreaction. Massive fear usually creates a strong counter-trend bounce, potentially a short squeeze, even if the longer-term narrative is correct.

Based on technical analysis, Salesforce has just filled a major gap from March 2023 and tagged a former pivot from October/November 2022. The probability of a bounce now sits at 80%, based on my factors.

Software stocks as a whole are due for a reversal. Look for this in the coming weeks. Upside on Salesforce is $210.

Author

Gareth Soloway

Verified Investing

A renowned trader and financial expert specializing in chart analysis and market insights.

GBP/USD: Downward-sloping trendline near 1.3470 remains key barrier

The British pound faces selling pressure against its major currency peers, trading 0.1% lower at around 1.3420 against the US Dollar during the European trading session on Tuesday.

Euro clings to the bid bias above 1.1500

EUR/USD has picked up pace, reversing Monday’s decline and advancing past the 1.1500 barrier on Tuesday. In the meantime, hopes for a diplomatic solution to the Middle East crisis keep the US Dollar under modest downside pressure, helping spot in its recovery.

Coinbase Bitcoin Premium Index extends historical negative streak as risk appetite deteriorates

The Coinbase Bitcoin Premium Index extends its negative streak to 78 consecutive days on Tuesday, the longest on record. This reading comes amid the ongoing bearish trend, which has seen Bitcoin (BTC) drop by almost 50% from its record high to trade around $64,000.

Why the WTI sell-off may be hiding a supply warning

Prices for the barrel of the American Oil benchmark have fallen sharply as hopes of a US-Iran agreement have resurfaced, but a deeply backwardated Oil curve, tight Cushing stocks and light speculative positioning all warn that the sell-off may have gone too far.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.