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Trading Signals

Zendesk maintains composure within $77.47 to $77.49 range

21 April 2023

ZEN

Today at a glance: Zendesk moves 0.03% to close at $77.48 today.

Zendesk is currently trading at $77.48 following the release of Services PMI data from the United States.

Zendesk's state is reflected by market data as United States Services PMI came out at 53.7, while a consensus of analysts was expecting 51.5. United States Existing Home Sales (Mar) released yesterday at 14:00 UTC with a figure of 4.44 million, while the previous figure was 4.55 million. United States Philadelphia Fed Manufacturing Index (Apr) released yesterday at 12:30 UTC with a figure of -31.3, while the previous figure was -23.2.

Trend-following investors would be interested to note that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Asset volatility analysis shows that Zendesk's upper Bollinger Band® is at $77.5, suggesting that a downward move may follow.

All in all, the technical analysis suggests Zendesk has no clear-cut direction.

Meanwhile, mixed performances were seen by other technology stocks as SAP gained 5.59%, as it traded at $133.95. TSM went down 4.39%, closed at $89.29. Intel closed at $30.3 (down 1.81%).

The stock has been trending positively for about 10 months. Since its 52-week high of $126.15, the SaaS company has lost 38.59% over the last twelve months.

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