Salesforce lost 1.41% today, closed at $192.55

Today at a glance: the customer relationship management company found support around the $192.55 level, after closing yesterday at $195.31 and dropping by 1.41% today.

United States Initial Jobless Claims improved upon its previous reading of 246,000 with a new data release of 228,000. United States Crude Oil Inventories fell short of the -2.33 million projections, with new data of -3.74 million.

Amid the market gloom, United States ISM Non-Manufacturing PMI (Mar) released yesterday at 14:00 UTC with a figure of 51.2, while the previous figure was 55.1.

Support/Resistance levels obtained from chart analysis indicate that Salesforce could begin to recover as it approaches significant support, now $2.47 away from $190.08. Dipping below could be an indication that further losses are ahead. Fibonacci-minded traders witnessed a key Fib level of $189.62 holding firm – an indicator of highly concentrated demand around this level.

Salesforce was not the only decliner in the technology sector; IBM went down to $130.5, losing 1.24% after it closed at $132.14 today.

On the other hand, positive performances could be seen by looking at other technology stocks as Microsoft added 2.55% to its value, and traded at $291.6. Intuit traded at $446.76 after closing today's trading day at $438.37 (up 1.91%).

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Non Farm Payrolls projected to come out at 239,000 — worse than previous data of 311,000; data will be released tomorrow at 12:30 UTC.

Furthermore, United States Unemployment Rate is expected tomorrow at 12:30 UTC.

The stock has been trending positively for about a month. The customer relationship management company has gained 42% since its lowest print of $128.27 earlier this year.