One of the beneficiaries of the wave of AI investment is the biggest customer relationship management solutions (or CRMs). In order to apply the power of AI to your business, you have to have a catalogue of all of your customer information. But as the AI rally starts to fragment, so are the tagalong stocks. Salesforce (ticker CRM) remains in a short-term downtrend, trading below the Ichimoku Cloud with the cloud itself continuing to slope lower, reinforcing a bearish outlook. The recent rally appears to be losing momentum as the Slow Stochastic has reached overbought territory and is beginning to turn lower, suggesting buyers may be running out of steam.

A break below recent support would increase the likelihood of a move back toward the recent lows, while the declining cloud should continue to act as overhead resistance. Until CRM can reclaim the cloud, the technical bias remains bearish, making rallies susceptible to renewed selling pressure.

Wishing you the best,

Wendy

P.S.–If you are looking for ways to offset rising costs and maintain your financial independence, weekly options offer a solution that can be accomplished without completely disrupting your life. A relatively small amount of time each week can reap big enough benefits to add peace of mind to your list of accomplishments. Here is how to get started.