Salesforce, Inc. ( CRM) is in the news Wednesday morning as the company announced a restructuring plan with layoffs and office closings. The stock is trading higher in early trading Wednesday, but let's check and see how this may affect the charts and indicators.
In my December 8 review I wrote that, "Shares of CRM are oversold when we look at tools like the slow stochastic indicator, but that is not a reason to be a buyer. Prices could bounce but that does not make a bottom and I want to buy bottoms and not try to capture short-term reflex bounces."
In the daily bar chart of CRM, below, I can see some limited stability around $130 in December. The shares started to turn upwards at year-end and could retest the underside of the declining 50-day moving average line in the near future. The 200-day moving average line is still in a decline and intersects around $165.
The daily On-Balance-Volume (OBV) line is still in a downward trend. The Moving Average Convergence Divergence (MACD) oscillator has crossed to the upside for only a cover shorts buy signal. An outright buy signal may be several days off. 
In the weekly Japanese candlestick chart of CRM, below, I do not see a bottom reversal and I fail to see any lower shadows. Prices have inched off the lows but CRM is still below the declining 40-week moving average line.
The weekly OBV line shows only a minor "uptick." The MACD oscillator is bearish.
In this daily Point and Figure chart of CRM, below, I can see an upside price target in the $155 area.
In this weekly Point and Figure chart of CRM, below, a downside price target in the $89 area is shown.
Bottom-line strategy: Bottoms are a process just as a corporate turnaround is a process. I would let the process play out for now.
