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February 28, 2023
Zendesk trades at $77.48, after ending yesterday at $77.46.
United States's Consumer Confidence new data released of 102.9 below its previous figure.
Uncertainty around Zendesk is reflected by published market data as highly important Consumer Confidence data from United States beat analyst expectations of 108.5 with a reading of 102.9. United States Pending Home Sales beat analyst expectations of 1% and the previous reading of 1.1% with new data of 8.1%. United States Core Durable Goods Orders came out at 0.7%, better than analyst estimates of 0.1% and improving upon the previous reading of -0.4%.
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. 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 Intuit is down 1.38% from the beginning of the session and now trades around $406.94. After closing the previous session (yesterday) at $632.08, ASML Holding lost $10.57 and is trading around $621.51. After closing the previous session (yesterday) at $115.13, SAP lost $1.32 and is trading around $113.81.
Moreover, United States Crude Oil Inventories projected to decline to 440,000 while previous data was 7.65 million; data will be released tomorrow at 15:30 UTC. United States ISM Manufacturing PMI (Feb) is scheduled for tomorrow at 15:00 UTC.
The stock has been trending positively for about 8 months. The SaaS company has fallen back around 40% from the significant high of $129.12 set 10 months ago.
