Zendesk extends losses - Analysis - 14-06-2022

Zendesk's stock (ZEN) tumbled 7.71% in the last session, or 5.01 points, settling at 59.96, with trading volumes surpassing 3.4 million shares, below averages of 4.2 million shares, after Morgan Stanley downgraded the stock's ratings and stock target to 80 from 145. 

The downward correctional trend in the short term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI. 

Therefore we expect more losses for the stock, targeting the pivotal support of 50.23. 

Expected trend for today: Bearish