A quick look at yesterday: the web and mobile application developer dropped 2.4% early on and traded close to the $18.32 level.
Following a previous reading of 0%, Core Retail Sales in United States released yesterday at 12:30 UTC fell short of the -0.3% figure expected by analysts with an actual reading of -0.8%. Retail Sales in United States fell short of market expectations (-0.4%) with a reading of -1%, continuing the decline from the previous figure of -0.2%.
Amid the market gloom, United States CFTC S&P 500 speculative net positions released yesterday at 20:30 UTC with a figure of -307,600, while the previous figure was -321,500.
Asana, Inc. made an initial break below its 50 day Simple Moving Average at $18.14, a possible indication of a forthcoming negative trend. Despite this, Asana's lower Bollinger Band® is at $17.94, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Asana could begin to recover as it approaches significant support, now 43 cents away from $17.89. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for Asana.
Asana was not the only decliner in the technology sector; Accenture plc Class A (Ireland) drops 2.11% yesterday to close at $285.27. Microsoft went down to $286.14, losing 1.28% after it closed at $289.84 yesterday.
On the other hand, positive performances could be seen by looking at other technology stocks as NVIDIA was up 1.11%.
Trending downwards for around 29 days. The digital team enabler has recovered 59.34% since descending to a significant low of $11.78 around 3 months ago.
