Salesforce Stock Analysis: Technical Indicators Suggest a Potential Upside Move

Salesforce (NYSE: CRM) shares could be gearing up for a move higher, as recent technical indicators and price action on both the weekly and daily charts suggest renewed bullish momentum.

At the time of writing, Salesforce stock is trading around $248.22 per share, down -28% year-to-date (YTD) and -18% over the past 12 months. Despite this decline, investor sentiment appears to be shifting, with early signs of strength returning to the market.

 

Weekly Chart: Strong Support Around the 200-Day Moving Average

On the weekly chart (chart below), Salesforce’s share price has pulled back towards the 200-day moving average (200MA) for the third time this year. Each time, the stock has managed to hold above this key level, suggesting that buyers are stepping in to defend this area of support.

This repeated pattern indicates a potential short-term support base around the $227–$230 region — aligning with the lows seen in June of last year. The green channel highlights this critical support zone.

Meanwhile, the MACD (Moving Average Convergence Divergence) line appears to be crossing above its signal line, which often signals bullish momentum. The last confirmed bullish crossover occurred in October last year, suggesting that another similar move could now be developing.

(Chart & Data from IG)

Daily Chart: Momentum Building Above the 50-Day Moving Average

On the daily timeframe, Salesforce’s MACD has turned positive and continues to rise — an encouraging sign for short-term traders. This could help fuel further upside momentum in the coming weeks, provided that broader market sentiment remains stable amid earnings season and ongoing US–China tensions.

Additionally, the price has recently moved above the 50-day moving average, which typically suggests increasing buying pressure and improving trend strength. If the session closes above this level, it could serve as confirmation that bullish momentum is accelerating.

Fundamentals: $60 Billion Revenue Target and Share Buyback Plan

Beyond the technical outlook, Salesforce has also strengthened its fundamentals. The company recently announced an ambitious $60 billion revenue target alongside a $7 billion share buyback programme, underscoring its free cash flow strength and revenue growth potential.

According to TipRanks, Salesforce has received 14 updated analyst ratings within the past 24 hours following this announcement. Of these, 13 analysts have maintained or reiterated their buy ratings or price targets, with the average 12-month target price now sitting at $326.57. This represents an implied upside potential of around 38% from current levels.

Final Thoughts: Technical and Fundamental Alignment

While technical indicators and fundamental catalysts suggest that Salesforce stock could be poised for a rebound, investors should approach with measured optimism. As always, technical setups and analyst forecasts are not guarantees of future performance.

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