Zendesk, Inc Stock Forecast
Weaker technical forecast for Zendesk, Inc as stock downgraded to Sell Candidate.
(Updated on May 09, 2024)
No changes to the price of Zendesk, Inc stock on the last trading day (Thursday, 9th May 2024). During the last trading day the stock fluctuated 0% from a day low at £2.10 to a day high of £2.10. The price has been going up and down for this period, and there has been a 1.94% gain for the last 2 weeks.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at £2.15 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -31.38% during the next 3 months and, with a 90% probability hold a price between £1.18 and £1.47 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ZEN.L Signals & Forecast
There are mixed signals in the stock today. The Zendesk, Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at £2.23. On a fall, the stock will find some support from the short-term average at £2.06. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, May 08, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Tuesday, April 30, 2024 and based on theory for this formation the price should go up by 5.56% to £2.22 within 12 trading days since signal was issued (Friday, May 10, 2024).
Support, Risk & Stop-loss for Zendesk, Inc stock
Zendesk, Inc finds support from accumulated volume at £2.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.60%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ZEN.L) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Zendesk, Inc to open at £2.10, and during the day (based on 14 day Average True Range), to move between £1.94 and £2.26, which gives a possible trading interval of +/-£0.157 (+/-7.45%) up or down from last closing price. If Zendesk, Inc takes out the full calculated possible swing range there will be an estimated 14.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £2.06 (1.90%) than the resistance at £2.15 (2.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Zendesk, Inc will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Zendesk, Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 13.04% in the first trading day after earnings release.
Is Zendesk, Inc stock A Buy?
Zendesk, Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.029 Sell Candidate Downgraded
Predicted Opening Price for Zendesk, Inc of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| £2.10 ( 0%) | £2.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZEN.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.10 | . | |
| R2 | 2.10 | . | ||
| R1 | 2.10 | . | ||
| Current price: | 2.10 | |||
| Support | S1 | 2.10 | . | |
| S2 | 2.10 | . | ||
| S3 | 2.10 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.35 | 11.90 % | |
| R2 | 2.20 | 4.76 % | ||
| R1 | 2.15 | 2.38 % | ||
| Current price | 2.10 | |||
| Support | S1 | 2.06 | -1.90% | |
| S2 | 2.05 | -2.38% | ||
| S3 | 0 | . |
FAQ
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