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May 17, 2023
A quick look at yesterday: Zendesk moves 0.03% to close at $77.48 yesterday.
United States Building Permits (Apr) is next today at 12:30 UTC.
Uncertainty around Zendesk is reflected by published market data as highly important Retail Sales data from United States beat analyst expectations of 0.8% with a reading of 0.4%. Highly important Core Retail Sales data from United States beat analyst expectations of 0.4% with a reading of 0.4%. United States API Weekly Crude Oil Stock came out at 3.69 million, while a consensus of analysts was expecting -1.3 million.
Concerning technical analysis and more specifically, trend indicators, 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.
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 AMD traded at $101.48 after closing yesterday's trading day at $97.4 (up 4.19%). Qualcomm lost 2.34% yesterday and closed at $103.79. Intel goes down 1.95% yesterday to close at $29.8.
Data to be released today might clear up some of the market fog as today at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -920,000 from the preceding figure of 2.95 million. United States Philadelphia Fed Manufacturing Index (May) will be released tomorrow at 12:30 UTC. United States Initial Jobless Claims is projected to outperform its last figure with 254,000. It previously stood at 264,000; data will be released tomorrow at 12:30 UTC.
The stock has been trending positively for about 11 months. Zendesk hit a significant low of $54.53 around 10 months ago, but has since recovered 42.05%.
