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February 22, 2023
A quick look at yesterday: Zendesk moves 0.03% to close at $77.48 yesterday.
United States FOMC Meeting Minutes is next.
This uncertain state for Zendesk is reflected by published market data as United States Existing Home Sales (Jan) released yesterday at 15:00 UTC with a figure of 4 million, while the previous figure was 4 million. United States 2-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.673, while the previous figure was 4.139. United States Existing Home Sales fell short of the 2% projections, with new data of -0.7%.
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. According to asset volatility analysis, 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 were seen by other technology stocks as Intel dips 5.61% yesterday to close at $27.61. Accenture plc Class A (Ireland) closed at $269.15 (down 2.85%). IBM drops 2.45% yesterday to close at $135.02.
Data to be released today might clear up some of the market fog as United States Crude Oil Inventories projected to decline to 1.17 million while previous data was 16.28 million; data will be released tomorrow at 16:00 UTC. Projections for United States Initial Jobless Claims are set for a continuation of decline with 200,000 while previous data was 194,000; data will be released tomorrow at 13:30 UTC. United States GDP is expected tomorrow at 13:30 UTC.
The stock has been trending positively for about 8 months. The software-as-a-service company has fallen back around 40% from the significant high of $129.12 set 10 months ago.
