How Low Will She Go? Candle InconsistencyPrice has busted the support line of the triangle (orange line).
Salesforce, Inc. has killed portfolio performance for over a year now and is still looking for a bottom.
I guess everything has a top and everything has a bottom.
There are 5 candles that have hit a low at this level, but price can still sail through this level like a missile on a bad market day like today.
I see a possible M The 2nd leg pulled to the .786 of the 1st leg. Leg 4 has hit the 1.272 and is where the 5 candles stopped but it does appear price is continuing to make new lows today. OUCH!
Falling wedge noted. A Falling wedge /blue/ is opposite of a Rising wedge and can be bullish . It is often found at the exhaustion level of a downtrend. The top trend line would need to be broken and price can also break down from a Falling wedge . The trendlines a falling wedge both slope down and narrow at the apex.
Short interest low at around 1%.
5 year low is 101.32. 3 year low is 115.29.
It just seems CRM may form a basing pattern soon like a triangle or a rectangle . Time will tell.
Today's candle differs here from the red inverted hammer that I see on TOS . This candle needs confirmation but one of the 2 platforms is incorrect.
An inverted hammer looks like a shooting star but the inverted hammer is found closer to bottoms whereas shooting stars are found at tops and are bearish .
A hammer at the bottom can look like a Hanging man at the top.
No recommendation.