Friday at a glance: pronounced bullish sentiment in the market helped the digital team enabler to make a notable 1.62% gain Friday, rising 29 cents and ultimately closing at $18.21.
Asana chart analysis: Asana, Inc. could be slowing down soon; it is getting close to the resistance line and is now at $18.45, only 24 cents away. Crossing the resistance line could, however, suggest that further gains are ahead. Trend-focused traders would be interested to note that 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 Asana's lower Bollinger Band® is at $17.51, indicating that the market is oversold and fertile for new buyers.
All in all, the technical analysis suggests Asana has no clear-cut direction.
A look at other technology stocks also showed bullish price action as SAP gained 5.59%, as it traded at $133.95.
While Asana was bullish Friday, the following technology stocks underperformed: TSM dips 4.39% Friday to close at $89.29. Intel went down to $30.3, losing 1.81% after it closed at $30.86 Friday.
Trending downwards for around a month. After hitting an important low of $11.78 approximately 3 months ago, the digital team enabler has bounced back 52.12% since.