Zendesk: M&A News pop!1Zendesk
Intraday - We look to Sell at 100.59 (stop at 107.67)
This stock has recently been in the news headlines for a private equity buyout imminent. Price action reacted by popping higher on yesterday's trading. Sentiment remains negative despite the pull-back higher in prices. Current price action faces resistance at the 61.8% Fibonacci retracement level of the 130.58-54.52 move. Resistance could prove difficult to breakdown. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Our profit targets will be 72.75 and 60.00
Resistance: 100.00 / 110.00 / 130.00
Support: 72.00 / 54.00 / 40.00
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Zendesk
Golden cross forms on Zendesk's chart.If history is any guide, there may be good fortune ahead for shares of Zendesk , a so-called "golden cross" has formed on its chart and, not surprisingly, this could be bullish for the stock.
Many traders use moving average crossover systems to make their decisions.
When a shorter-term average price crosses above a longer-term average price, it could mean the stock is trending higher. If the short-term average price crosses below the long-term average price, it means the trend is lower.
The 50-day and the 200-day simple moving averages are commonly used.
The golden cross occurs when the 50-day crosses above the 200-day . This could mean the long-term trend is changing.That just happened with Zendesk , which is trading around $126.05 at posting time.
Seasoned investors don't blindly trade Golden Crosses.
Instead, they use it as a signal to start looking for long positions based on other factors, like price levels and company fundamentals & events.
For seasoned investors, this is just a sign that it might be time to start considering possible long positions.
With that in mind, take a look at Zendesk's past and upcoming earnings expectations:
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Zendesk $ZEN$ZEN is hitting the pivot to breakout. needs to hold above to get in. watch out for a breakout.
12 months Consensus Price Target: $94.10
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Thx
