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Pullback Below Pivot Point Following Breakout Gain - Tuesday, July 21, 2020
Zendesk Inc (ZEN -$1.85 or -1.92% to $94.30) finished near the session low and raised some concerns as it fell back below its pivot point with a loss today after highlighted in yellow with pivot point cited based on its 7/10/20 high plus 10 cents in the earlier mid-day report (read here). It hit new 52-week and all-time highs (N criteria) on the prior session with a gain backed by +70% above average volume triggering a technical buy signal. Confirming volume-driven gains would be a reassuring sign of fresh institutional accumulation.
Quarterly earnings comparisons through Mar '20 have been above year ago periods by more than the +25% minimum guideline (C criteria). After years of shrinking losses it reported solid earnings in FY '18 and '19 (A criteria). Increasing institutional ownership (I criteria) is a reassuring sign. The number of top-rated funds owning its shares rose from 566 in Dec '19 to 601 in Jun '20. Its current Up/Down Volume Ratio of 1.7 is an unbiased indication its shares have been under accumulation overt the past 50 days. It has 114.2 million shares outstanding (S criteria).
Quarterly earnings comparisons through Mar '20 have been above year ago periods by more than the +25% minimum guideline (C criteria). After years of shrinking losses it reported solid earnings in FY '18 and '19 (A criteria). Increasing institutional ownership (I criteria) is a reassuring sign. The number of top-rated funds owning its shares rose from 566 in Dec '19 to 601 in Jun '20. Its current Up/Down Volume Ratio of 1.7 is an unbiased indication its shares have been under accumulation overt the past 50 days. It has 114.2 million shares outstanding (S criteria).
ZEN has an A Timeliness Rating and a B Sponsorship Rating. It hails from the Computer Software-Enterprise group which is currently ranked 2nd among the 197 Industry Groups (L criteria).
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