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

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

Zendesk's state is reflected by market data as United States Producer Price Index released earlier showed a marked improvement to 0.2% from the preceding data of -0.4%, but fell short of the 0.3% figure forecast by a consensus of market analysts. Initial Jobless Claims in United States fell short of market expectations (245,000) with a reading of 264,000, continuing the decline from the previous figure of 242,000. United States Crude Oil Inventories came out at 2.95 million, better than analyst estimates of -917,000 and improving upon the previous reading of -1.28 million.

With regards to technical trend indicators, chart analysis show that investors are seeking long positions as Zendesk, Inc. price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Asset volatility analysis shows 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.

Meanwhile, mixed performances are seen in other technology stocks as after closing the previous session (yesterday) at $312.31, Microsoft lost $5.24 and is trading around $307.07. After closing the previous session (yesterday) at $106.46, Qualcomm lost $2.27 and is trading around $104.19. Intel is down to $29.43, losing 1.79%, after ending yesterday at $29.97.

The stock has been trending positively for about 10 months. Zendesk hit a significant low of $54.53 around 10 months ago, but has since recovered 42.05%.