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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).”
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