Watch These Salesforce Price Levels as Stock Jumps on Upbear Sales Outlook

Core Insights - Salesforce (CRM) shares rose in premarket trading following a better-than-expected long-term sales outlook, with projected revenue exceeding $60 billion by 2030 and annual growth above 10% from 2026 to 2030, driven by its Agentforce software [2][8][14] - The stock experienced a 4.8% increase to $248, despite a nearly 30% decline in value this year due to concerns over competition in AI software affecting Agentforce adoption [3][8] Technical Analysis - Salesforce shares have been trading within a descending broadening formation since mid-May, with the 50-day moving average exerting selling pressure on rallies [4][5] - A potential breakout from this formation could occur if shares open around the 50-day moving average, with critical overhead levels to watch at $270 and $290, and support levels at $230 and $212 [8][11] Price Levels - A volume-backed breakout above the upper trendline of the descending broadening formation could lead to a price move towards $270, which aligns with the 61.8% Fibonacci retracement level [9][10] - If the stock resumes a downtrend, the $230 level is crucial for potential buying interest, with a failure to hold this level opening the possibility for a retest of $212 [11]