Salesforce: Further Progress

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Due to continued downward pressure, Salesforce has made further progress in realizing our primary scenario. During the ongoing green wave [3], we still expect the stock to sell off below the support at $274. However, if the price imminently climbs above the resistance at $312, we will have to reconsider the structure of the ongoing decline and reckon with a magenta five-wave downward move. We currently assign this alternative scenario a 36% probability.

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