Is Zenvia, Inc. technically bullish or bearish?

As of 11 September 2025, the technical trend for Zenvia, Inc. has changed from sideways to mildly bearish. The current stance is bearish, with key indicators supporting this view including a bearish MACD on the weekly timeframe, bearish Bollinger Bands on both weekly and monthly timeframes, and bearish moving averages on the daily timeframe. The KST indicates a mildly bearish trend on the monthly level, while the Dow Theory shows a mildly bearish stance on the weekly timeframe.
In terms of performance, Zenvia has underperformed significantly compared to the S&P 500 across multiple periods, with a year-to-date return of -49.78% versus the S&P 500's 12.22%, and a one-year return of -20.39% compared to the S&P 500's 17.14%.