Cloud computing and cybersecurity company Zscaler (ZS) had a very long period of relative strength between May of 2023 and February of 2024. Over that period, ZS climbed from the bottom of the red zone to the top of the green zone in the SIA NASDAQ 100 Index Report.
In recent weeks, however, Zscaler’s relative strength has eroded. Last month it fell into the yellow zone and this week it has returned to the Red Unfavored Zone for the first time since August. Since leaving the green zone, the shares are down 8.4%, while the NASDAQ Composite Index is down 0.6% over the same time frame.
Yesterday ZS finished in 56th place, down 2 spots on the day and down 51 positions in the last month.
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