Zendesk closed a flat day of trading at $77.48 yesterday after ending Friday at $77.46.
- United States Consumer Confidence is next today at 15:00 UTC.
- Zendesk has been pretty quiet for the last 10 days, trading mostly flat and moving by only 18.6 cents on average.
Technical analysis of Zendesk before macro data is released:
Trend analysis indicates that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to asset volatility analysis, Zendesk's upper Bollinger Band® is at $77.5, suggesting that a downward move may follow. Technical analysis of Zendesk's past price action reveals multiple support and resistance levels: Zendesk is approaching key support, around 1 cents away from $77.47. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
With market volatility ebbing, the current technical outlook indicates Zendesk will remain range-bound for the immediate future.
Coming up for Zendesk — projections for United States Crude Oil Inventories are set for a continuation of decline with -1,000,000 while previous data was 533,000; data will be released tomorrow at 15:30 UTC. United States ADP Nonfarm Employment Change (Jan) scheduled to come out tomorrow at 13:15 UTC.
As the markets get ready for more data to be released — NVIDIA closed at $191.62 (down 5.91%). Microsoft closed at $242.71 (down 2.2%). SAP traded at $116.09 after closing yesterday's trading day at $113.21 (up 2.54%).
The stock has been trending positively for about 7 months. The software-as-a-service company has fallen back around 40% over the past 9 months, from a notable high of $129.12.