• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Zendesk Inc (NYSE:ZEN)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Zendesk Inc (NYSE:ZEN) based on the price action in the company's shares. Yesterday's price range of $67.57 and $70.34 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Zendesk Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Zendesk Inc (NYSE:ZEN) is currently priced 19.9% above its average consensus analyst price target of $57.79. The stock should find resistance at its 200-day moving average (MA) of $77.35, as well as support at its 50-day MA of $71.73.

Over the past year, Zendesk Inc has traded in a range of $50.23 to $94.79 and closed yesterday at $72.10, 44% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1.4%.

Zendesk, Inc. provides web-based help desk software with customer support platform. The Company offers applications that allow clients to manage incoming support requests from end customers from any Internet connected computer. Zendesk serves customers in the United States.

SmarTrend is tracking the current trend status for Zendesk Inc and will alert subscribers who have ZEN in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle zendesk inc

Ticker(s): ZEN