Smartsheet trades at $27.28 today, after closing yesterday at $26 and gaining $1.28 (4.96%).
Smartsheet is currently trading at $27.28 following the release of EIA Short-Term Energy Outlook data from the United States.
Visual analysis of Smartsheet’s chart shows that Smartsheet Inc. broke through the $26.66 resistance and climbed above it 62 cents; next resistance level is at $27.32. Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, Smartsheet’s lower Bollinger Band® is at $26.85, indicating that the market is oversold and fertile for new buyers.
With market volatility ebbing, the current technical outlook indicates Smartsheet will remain range-bound for the immediate future.
A look at other technology stocks also shows bullish price action as Intuit is up 4.79%. TSM gained 4.27%, currently at $65.44. Salesforce is trading at $149.63 after ending yesterday’s session at $144.59 (up 3.49%).
Today’s gains are adding to bullish investor sentiment as robust macro data is expected for release later today; United States Crude Oil Inventories is projected to outperform its last figure with 1.1 million. It previously stood at -3.12 million; data will be released tomorrow at 15:30 UTC.
Smartsheet reached a significant high of $79.82 around 10 months ago but has lost 67.44% since then.