Today at a glance: an influx of sellers pushed the project management software company to end the session lower around $41.26, while establishing a $40.97 to $42.59 session range today.
United States Core Retail Sales fell short of the 0.2% projections, with new data of -0.2%. Data from United States concerning Retail Sales was released today at 13:30 UTC. Newly published figures emphasized continued decline from last month's figure of 1.3% to -0.6% this month.
Meanwhile, United States Philadelphia Fed Manufacturing Index (Dec) came out at -13.8, while a consensus of analysts was expecting -10.
Technical analysis trend indicators suggest that Smartsheet Inc. made an initial break below its 3 day Simple Moving Average at $41.42, a possible indication of a forthcoming negative trend. Smartsheet's notable support and resistance levels: Smartsheet could begin to recover as it approaches significant support, now 86 cents away from $40.4. Dipping below could be an indication that further losses are ahead.
Notwithstanding Smartsheet's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
Smartsheet was not the only decliner in the technology sector; IBM plunges 5% today to close at $149.86. Apple closed at $136.5 (down 4.69%). Intuit closed at $396.53 (down 5.34%).
Having set a significant high of $79.82 a month ago, the project management software company is trading 63.9% lower.