Following 10 days of flat trade, Pointing in a similar direction, yesterday's session was more of the same — Zendesk moves 0.03% to close at $77.48 yesterday.
Zendesk's state is reflected by market data as United States Consumer Price Index came out at -0.1%, while a consensus of analysts was expecting 0%. United States Initial Jobless Claims improved upon its previous reading of 206,000 with a new data release of 205,000. United States Core Consumer Prices released yesterday at 13:30 UTC with a figure of 0.3%, while the previous figure was 0.2%.
Trend-focused traders would be interested to note that investors are seeking long positions as Zendesk, Inc. price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Analysis based on the asset volatility indicates that Zendesk's upper Bollinger Band® is at $77.5, suggesting that a downward move may follow.
Overall, the technical outlook suggests Zendesk is likely to remain muted for the immediate future, with no clear-cut direction.
The stock has been trending positively for about 6 months. Having soared to a high of $129.12 approximately 8 months ago, the software-as-a-service company is now trading 40% lower.