Shares of Salesforce Inc. (NYSE: CRM) closed just above $245 on Wednesday, as they continued to rebound off the support line around the $230 mark. This was the level where the bears ran out of steam both back in April and again earlier this month, and it’ll be a reassuring signal for the bulls who might otherwise have been getting seriously worried.
Still, the chart does not look flattering. Shares are down more than 30% from their January high, at a time when the broader tech market and equities in general have been printing fresh highs. It’s a glaring divergence, but one that could actually be quite interesting for those of us on the sidelines.
