May reverse after disappointing post-IPO decrease

After hitting a high of 64.40 shortly after IPO in July 2020, price action has been descending over time recently hitting all time lows with the recent market pullback. Some initial indicators that the bottom may be in with a recent curl upwards and a close over the 5 day EMA. Its oversold and may bounce from here, especially on a rotation back into cloud/SaaS stocks. Of particular interest is the marked gap above.

Towards the fundamentals, JPM Analyst Mark Murphy said that the 34% pullback in the shares since August 6 "creates asymmetric upside potential" according to this coverage: seekingalpha.com/new...avorable-entry-point

Kommentar:

Nice move so far playing out as levels indicated. Hoping this falls under the entry fib on market weakness to make a nice second entry.