Salesforce shares are climbing to new heights and have reached new all-time highs recently. YTD, the share price is up 28.8%. It has been rising dynamically since May of this year. What's next?
The breakout above the old high at USD 320 confirmed the long-term upward trend. After testing the breakout level, the stock rose again. Our main scenario envisages a direct rise to the USD 385 area, where a medium-term trend channel boundary runs.
If this is breached to the upside, the focus is on follow-up targets at USD 400 and above.
Our alternative scenario envisages a relapse below 315 USD. In this case, a detour via the 275 USD mark would become clear.
Below 270 USD, the chart becomes much more neutral, and further downward waves may follow.
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