Apr. 25 at 7:09 PM
$CRM recently bounced off a decade-long support, similar to what we saw with
$NOW. Does that mark the bottom? Maybe — but far from confirmed. If a level like that breaks, downside can accelerate quickly.
Structurally, this is still a clear downtrend. The market isn’t showing much love to software, and
$NOW’s post-earnings reaction says a lot about current sentiment. Price remains well below both Daily and Weekly 200SMA, with bearishly aligned Daily EMAs.
For any real recovery case, I’d want to see strong reclaims of the EMA50 and 50SMA first — and that hasn’t happened yet. Until then, rallies look more like moves within a downtrend.
👉If this helps, tap @backtesttrend
