A quick look at yesterday: in yesterday's bearish session, the digital team enabler shed around 3.78% in quick fashion, found support around the $13 level and finally closed at $13.25. In contrast, the day's events followed Friday's session in which the stock closed at $13.77.
United States ISM Manufacturing PMI (Dec) is next today at 15:00 UTC.
Meanwhile, United States Manufacturing PMI released yesterday at 14:45 UTC with a figure of 46.2, while the previous figure was 47.7.
Asana, Inc. made an initial break below its 21 day Simple Moving Average at $14.24, a possible indication of a forthcoming negative trend. On the other hand, note that Asana could begin to recover as it approaches significant support, now 56 cents away from $12.69. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting Asana to extend its recent losses.
Asana was not the only decliner in the technology sector; Apple went down 3.74%, closed at $129.93. Qualcomm went down to $107.2, losing 2.49% after it closed at $109.94 yesterday.
On the other hand, positive performances could be seen by looking at other technology stocks as Oracle gained 2.42%, as it traded at $83.72.
Moreover, United States Crude Oil Inventories is projected to outperform its last figure with 2.23 million. It previously stood at 718,000; data will be released tomorrow at 16:00 UTC.
Furthermore, United States ADP Nonfarm Employment Change (Dec) is scheduled for tomorrow at 13:15 UTC. United States JOLTs Job Openings (Nov) is expected today at 15:00 UTC.
The web and mobile application developer reached a significant high of $74.13 around 10 months ago but has lost 81.42% since then.