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April 07, 2023
The US stock market is closed for the Good Friday holiday and resumes Monday. Meanwhile, here is a recap of yesterday: Zendesk moves 0.03% to close at $77.48 yesterday.
Uncertainty around Zendesk is reflected by published market data as United States Initial Jobless Claims improved upon its previous reading of 246,000 with a new data release of 228,000. United States Reserve Balances with Federal Reserve Banks released yesterday at 20:30 UTC with a figure of 3.38 trillion, while the previous figure was 3.40 trillion. United States Fed's Balance Sheet released yesterday at 20:30 UTC with a figure of 8.63 trillion, while the previous figure was 8.71 trillion.
Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as Zendesk, Inc. price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. 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 were seen by other technology stocks as Microsoft added 2.55% to its value, and traded at $291.6. Intuit gained 1.91%, as it traded at $446.76. IBM went down to $130.5, losing 1.24% after it closed at $132.14 yesterday.
Data to be released Monday might clear up some of the market fog as United States Non Farm Payrolls expected to decline to 239,000 while its preceding data was 311,000, data will be available today at 12:30 UTC. United States Unemployment Rate figure is projected at 3.6. It previously stood at 3.6; data will be released today at 12:30 UTC.
The stock has been trending positively for about 9 months. Having set a significant high of $129.12 11 months ago, the software-as-a-service company is trading 40% lower.
