Slack Technologies Inc (WORK) “On a long-term technical basis, the stock (WORK) is trading below its 200-day moving average which generally implies it is in a negative trend.

The stock has support at 24.06 and 21.05. If the stock breaks down through support at 24.06 then it will probably continue lower to 21.05. The stock has resistance at 27.28 and 28.72. If the stock breaks up through resistance at 27.28 then it will probably continue higher to 28.72. The 200-day moving average is at 27.28. This will also act as resistance. The stock’s long-term uptrend has changed into a sideways or downtrend. In this case, the stock will either go sideways for a while or sell-off back to where it started prior to the latest big upmove. This is a risky time to buy the stock, so be careful. Wait for the trend to change to bullish before entering. Use caution during times like these, as the stock will be more volatile. Confirm with the TMTI Indicator, Short-Term and Immediate Outlook for help entering. The stock is slightly oversold according to the Stochastic Indicator (28.67).”

Slack Technologies Inc (WORK) “On a long-term technical basis, the stock (WORK) is trading above its 200-day moving average which generally implies it is in a positive trend. However, the stock has recently broken down through an important fibonacci fan trendline at 34.94 suggesting the next support level is at 31.15. This weakness suggests the long-term uptrend is turning neutral.

The stock has support at 31.15 and 29.54. If the stock breaks down through support at 31.15 then it will probably continue lower to 29.54. The stock will meet resistance at 34.67 and 40.07. If the stock breaks up through resistance at 34.67 then it will probably continue higher to 40.07. The 200-day moving average is at 25.35. This will also act as support. The stock is slightly oversold according to the Stochastic Indicator (32.41).”