Zscaler's recent international revenue uptick and strong presentation at Morgan Stanley indicate a resurgent trend in cloud security spending, supporting a break above short-term resistance. Technical indicators show moving averages converging upward and a bullish MACD crossover, reinforcing upside potential.

Market sentiment has shifted positively after Zscaler’s conference buzz and a potential bottoming of software stocks, suggesting increased investor appetite for security leaders. The rally is in line with broader tech trend momentum, implying a bullish stance.

Risk remains moderate; however, the company's solid ARR growth, AI security expansion, and stable international diversification lower downside prospects, making a bullish outlook sustainable. Long-term fundamentals remain strong, with earnings guidance that supports valuation resilience.

Data-driven signals show Zscaler’s RSI moving out of oversold territory and volume surging on the recent earnings-day play, confirming bullish momentum. The stock is also aligning with the January 30% retracement level which it has now surpassed, further suggesting an upward trajectory.