Sliced and Diced - CRM, TQNT, and ONP Under the Trading Microscope
The writer has an interesting point of view: "Anyway, you can't see it amazingly clearly on the weekly chart of salesforce.com below, but the 100-day moving average line is under attack as support at $100.92; it's aligned with a rising supply line too. If those floors break, look out below. And just for reference, we've seen these kinds of meltdowns from CRM before... in late 2008. An implosion of that magnitude didn't seem possible then either, yet it happened..."
We have seen a 20% haircut very fast. It happens. After it happens, a stock goes up again >>IF<< a company continues to grow and succeed. Right now CRM still is above its 180-day MA, so maybe it will be a few months before it grows into its valuation. Maybe it even will dip below that trendline. But long-term this is a BUY and 20% off is a good price, IMO.