Salesforce suffers weak session with 1.5% loss; downside halted at $208.07

A quick look at Friday: the customer relationship management company dropped 1.5% early on and traded close to the $210.09 level.

Salesforce's lower Bollinger Band® is at $204.86, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Salesforce could begin to recover as it approaches significant support, now $1.65 away from $208.44. Dipping below could be an indication that further losses are ahead.

Technical analysis shows that Salesforce (currently on a downtrend) might reverse course and start going up in the short term.

Salesforce was not the only decliner in the technology sector; Accenture plc Class A (Ireland) went down to $298.43, losing 2.87% after it closed at $307.25 Friday. Sony Group Corporation went down to $91.14, losing 2.86% after it closed at $93.82 Friday. Texas Instruments drops 2.87% Friday to close at $172.63.

Moreover, United States Consumer Confidence is projected to outperform its last figure with 104. It previously stood at 102.3; data will be released tomorrow at 14:00 UTC.

Furthermore, United States Building Permits will be released tomorrow at 12:00 UTC. United States New Home Sales (May) scheduled to come out tomorrow at 14:00 UTC.

Having set a significant low of $128.27 6 months ago, the customer relationship management company is trading 66.28% higher.