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

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

This uncertain state for Zendesk is reflected by published market data as United States Building Permits (Mar) released today at 12:30 UTC with a figure of 1.41 million, while the previous figure was 1.55 million. Housing Starts in United States fell short of market expectations (0.4%) with a reading of -0.8%, continuing the decline from the previous figure of 7.3%. United States Building Permits came out at -8.8%, while a consensus of analysts was expecting -6%.

Technical analysis trend indicators suggest 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.

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 NVIDIA is up 2.94%. Apple is up 0.94%. Oracle is trading at $96.65 after ending yesterday's session at $95.59 (up 1.11%).

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Crude Oil Inventories projected to come out at -2.46 million — worse than previous data of 597,000; data will be released tomorrow at 14:30 UTC.

The stock has been trending positively for about 10 months. Approximately 11 months ago, the software-as-a-service company reached a significant high of $129.12 but has struggled to hold onto its gains and declined 40% since then.