Today, Asana trades below the $17 level for first time in 3 months; it lost 34 cents on a day following a closing value of $17.21.
A study of Asana’s chart reveals various key levels to watch: Asana, Inc. could begin to recover as it approaches significant support, now 63 cents away from $16.24. Dipping below could be an indication that further losses are ahead. 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. Analysis based on the asset volatility indicates that Bollinger Bands® shows an indication of recovery: the lower band is at $17.05, a low enough level to, generally, suggest that Asana is trading below its fair value.
With market volatility ebbing, the current technical outlook indicates Asana will remain range-bound for the immediate future.
On the other hand, positive performances could be seen by looking at other technology stocks as Microsoft gained 2.93%, as it traded at $227.87. Adobe was up 4.83%. Accenture plc Class A (Ireland) added 3.03% to its value, and traded at $269.07.
Moreover, United States Crude Oil Inventories is projected to outperform its last figure with 1.1 million, having previously been at -3.12 million. The figure will be published tomorrow at 15:30 UTC.
Furthermore, United States EIA Short-Term Energy Outlook is scheduled for today at 17:00 UTC.
11 months ago Asana reached a significant high of $142.68 but has consequently lost 87.94% since then.