Friday at a glance: the digital team enabler has almost recovered all its losses from a previous close of $18.84 after dipping down to $17.92 Friday.
Asana, Inc. made an initial break below its 5 day Simple Moving Average at $18.14, a possible indication of a forthcoming negative trend. 'Bearish Harami' is a candlestick chart indicator used for detecting reversals within a prevailing bull trend. It is generally indicated by a small price decrease that's contained within a broader upward price movement and is commonly associated with a bullish trend coming to an end. Despite this, although Asana is pointing down today (was as low as $17.92), it's climbing away from the $18.04 support line and is now 42 cents above it.
Following today's unexpected losses, extensive multifactorial technical analysis forecasts Asana to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the digital team enabler is expected to attract significant bearish sentiment in the coming days.
Asana was not the only decliner in the technology sector; Apple went down to $148.11, losing 1.96% after it closed at $151.07 Friday. ASML Holding went down 2%, closed at $603.85. Qualcomm lost 1.36% Friday and closed at $123.45.
Approximately 11 months ago, the web and mobile application developer reached a significant high of $108.91 but has struggled to hold onto its gains and declined 82.7% since then.