Zscaler, Inc. (ZS) , a cloud security firm, recently went public. We do not have a lot of price data to work with and ZS has traded sideways the past few weeks, but we can still make some observations. (It's also one of the stocks discussed in Jim Cramer's latest Mad Money Recap.)
In this daily bar chart of ZS, below, we can that trading has been hemmed in between $26 on the downside and below $30 on the upside. The Bollinger Bands have begun to narrow slightly as volatility has diminished. Volume is on the light side but the daily On-Balance-Volume (OBV) line has been steady.
Bottom line: Traders who like the fundamental story can probe the long side of ZS on a close above $30.