Salesforce Stock Drops on Weak Forecast: Key Levels to Watch
Salesforce shares plunged nearly 5% to $244 after issuing disappointing revenue guidance, despite beating Q2 estimates. The cloud software leader's $10.24-$10.29 billion forecast for current quarter sales fell short of Wall Street's AI-driven growth expectations.
The stock's 27% year-to-date decline reflects mounting concerns about slowing demand for its AI agent platform. Technical indicators had flashed warning signs even before the earnings report, with the Relative Strength Index lingering in bearish territory during recent countertrend rallies.
Traders are now watching critical support levels at $225 and $200, while resistance looms NEAR $267 and $290. The selloff positioned Salesforce as Thursday's worst performer in the Dow Jones Industrial Average.
