Salesforce closed at $173.18 after losing 3.1% yesterday

Yesterday at a glance: an influx of sellers pushed the customer relationship management company to end the session lower around $173.18, while establishing a $171.71 to $179.36 session range yesterday.

United States Unemployment Rate fell short of the 3.4 projections, with new data of 3.6.

This down-slide takes place despite the positive US macroeconomics indicators data that was published earlier — United States Non Farm Payrolls beat the 205,000 projections, with 311,000.

Meanwhile, United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 107,100, while the previous figure was 128,800.

Salesforce made an initial break below its 10 day Simple Moving Average at $175.81, a possible indication of a forthcoming negative trend. After descending below strong Fibonacci support at $174.64, market bears have earmarked $163.49 as the next downside target. Despite this, Salesforce could begin to recover as it approaches significant support, now $3.04 away from $170.14. Dipping below could be an indication that further losses are ahead.

Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Salesforce to extend its recent losses.

Salesforce was not the only decliner in the technology sector; Accenture plc Class A (Ireland) closed at $252.95 (down 2.62%). Oracle dips 3.22% yesterday to close at $86.87. Intuit lost 2.96% yesterday and closed at $392.61.

2 months ago, the cloud CRM provider fell to a low of $128.27 but has since recovered 39.33%.