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Trading Signals

Slow start to the session for Zendesk as it idles around $77.48

28 April 2023

ZEN

Zendesk trades at $77.48, after ending yesterday at $77.46.

Zendesk's state is reflected by market data as United States Core PCE Price Index (MoM) (Mar) released today at 12:30 UTC with a figure of 0.3, while the previous figure was 0.3. Highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of -5.2%. United States GDP published yesterday at 12:30 UTC came out at 1.1, falling short of the two projections and continuing its decline from the previous 2.6 figure.

Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as Zendesk, Inc. price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, Zendesk's upper Bollinger Band® is at $77.5, suggesting that a downward move may follow.

The current technical outlook indicates Zendesk will continue to ebb sideways within tight ranges for the immediate future.

Meanwhile, mixed performances are seen in other technology stocks as Sony Group Corporation is down to $89.96, losing 5.39%, after ending yesterday at $95.09. Intel added 6.21% to its value, now trading at $31.71. Accenture plc Class A (Ireland) is up 1.17%.

The stock has been trending positively for about 10 months. Over the past 11 months, the software-as-a-service company has retreated 37.36% from a noteworthy peak of $123.65.

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