Salesforce Is Down Some 50% in 13 Months. Here's Its Chart.Salesforce, Inc.BATS:CRMmoomooSalesforce CRM has seen its value nearly cut in half in the past 12 months, with the AI-focused software firm's stock hitting a nearly three-year low this week ahead of earnings. Let's see what CRM's chart and fundamental analysis can tell us. Salesforce's Fundamental Analysis Led by billionaire CEO Marc Benioff, Salesforce plans to release its fiscal Q4 results after the closing bell on Wednesday. The results will come out at a time when CRM has been on the wrong side of the market for far longer than the struggling software industry in general has been. The Street is looking for the company to report $3.05 in adjusted earnings per share for the period on roughly $11.2 billion of revenue. Should the deck play out that way, that would represent a 9.7% year-over-year gain from the $2.78 in adjusted EPS that Salesforce posted for the same period one year ago. Such results would also mark about 12% in y/y growth from Q4 2025's $10 billion of revenue. There are mixed opinions on Salesforce up and down Wall Street going into this week's earnings report. Twenty-six of the 42 sell-side analysts I know of who cover Salesforce have revised their earnings estimates upward for the period since the quarter began, while nine have cut their numbers and seven have made no changes. Salesforce's Technical Analysis Let's see if CRM's technicals offer any clues as to what might happen once those numbers are published. Here's Salesforce's chart going back some 16 months and running through last Thursday afternoon: The first thing readers will see is a double-top pattern of bearish reversal in late 2024 that kicked off a more than year-long sell-off for the stock. Marked with red boxes and red shading at the chart's left, this led directly into a falling-wedge pattern of bullish reversal. Denoted by blue diagonal lines and tan shading, this pattern did lead to Salesforce trying to break out to the upside in late 2025. However, CRM's bullish move led right into a second double-top pattern of bearish reversal (the red boxes at shading at the chart's right). This saw the stock get obliterated in early 2026. Is there any hope? Actually, yes. Readers will see that despite the stock having surrendered all three of its key moving averages, Salesforce's secondary technical indicators shown above are acting just a wee bit better. For example, the stock's Relative Strength Index (or "RSI," marked with a gray line at the chart's top) is flirting with the possibility of exiting technically oversold territory. And while all three components of Salesforce's daily Moving Average Convergence Divergence indicator (or "MACD," denoted by a black line, gold line and blue bars at the chart's bottom) are still in negative territory, there's some cause for hope. Yes, having those three data points in negative territory is usually bearish, but the histogram of the 9-day Exponential Moving Average (or "EMA," marked with blue bars) is very close to going positive. In addition, the 12-day EMA (the black line) is very close to crossing above the 26-day EMA (the gold line). If both of those things happen, that would be technically bullish for the stock. An Options Option Some risk-averse options traders might be employing a "bull-call spread" in this situation. That's where you buy two calls with the same expiration dates, but different strike prices. Here's an example: -- Long one $180 CRM call with a Feb. 27 expiration date (i.e., after earnings). This cost about $6.60 at recent prices. -- Short one Feb. 27 $190 CRM call for roughly $3.50. Net Debit: $3.10. These traders will be risking the $3.10 net debit (the maximum theoretical loss) in an attempt to bring back $10, for a $6.90 maximum theoretical net profit. The trader would receive that if CRM closes at or above $190 at expiration. Conversely, traders would see the $3.10 maximum theoretical loss occur if CRM closed at or below $180 at expiration. (Moomoo Technologies Inc. Markets Commentator Stephen "Sarge" Guilfoyle had no position in CRM at the time of writing this column.) This article discusses technical analysis, other approaches, including fundamental analysis, may offer very different views. The examples provided are for illustrative purposes only and are not intended to be reflective of the results you can expect to achieve. Specific security charts used are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. 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