A quick look at yesterday: after dropping down to $17.35, the digital team enabler recovers some losses and is currently trading at $18.08.
United States Non Farm Payrolls is next.
Uncertainty around Asana is reflected by published market data as United States ISM Manufacturing PMI (Nov) released yesterday at 15:00 UTC with a figure of 49, while the previous figure was 50.2. United States Core PCE Price Index (MoM) (Oct) came out at 0.2, while a consensus of analysts was expecting 0.3. Highly important Initial Jobless Claims data from United States beat analyst expectations of 235,000 with a reading of 225,000.
Asana, Inc. is approaching key support, around $1 away from $17.07. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Asana made an initial breakout above its 10 day Simple Moving Average at $18.32, a potential indicator of a newly emerging bullish phase.
Despite muted price action in Asana, chart analysis indicates it is positioned for a bullish run in the short term.
Meanwhile, mixed performances were seen by other technology stocks as Salesforce lost 8.27% yesterday and closed at $147. Intuit gained 2.08%, as it traded at $416.07. Texas Instruments went down to $177.5, losing 1.64% after it closed at $180.46 yesterday.
Data to be released today might clear up some of the market fog as projections for United States Non Farm Payrolls are set for a continuation of decline with 200,000 while previous data was 261,000; data will be released today at 13:30 UTC. United States Unemployment Rate is expected today at 13:30 UTC.
Approximately a year ago, the digital team enabler reached a significant high of $91 but has struggled to hold onto its gains and declined 80.04% since then.