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June 20, 2023
Today at a glance: Zendesk moves 0.03% to close at $77.48 today.
Zendesk's state is reflected by market data as United States Building Permits (May) released today at 12:30 UTC with a figure of 1.49 million, while the previous figure was 1.15 million. United States Housing Starts came out at 21.7%, better than analyst estimates of -0.8% and improving upon the previous reading of -2.9%. United States Housing Starts (May) came out at 1.63 million, while a consensus of analysts was expecting 1.4 million.
Trend-focused traders would be interested to note 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.
All in all, the technical analysis suggests Zendesk has no clear-cut direction.
Meanwhile, mixed performances were seen by other technology stocks as Intel went down to $35, losing 3.77% after it closed at $36.37 today. Oracle went down to $122.04, losing 2.73% after it closed at $125.46 today. Salesforce was up 2.46%.
Data to be released tomorrow might clear up some of the market fog as United States Fed Chair Powell testimony is scheduled for tomorrow at 14:00 UTC.
The stock has been trending positively for about a year. After hitting an important low of $56.04 approximately 11 months ago, the SaaS company has bounced back 38.22% since.
