A quick look at Friday: the web and mobile application developer plunged into the red after losing 7.24%, declining to $14.48.
Asana, Inc. made an initial break below its 50 day Simple Moving Average at $14.61, a possible indication of a forthcoming negative trend. Price action remains constrained around the key Fibonacci level of $14.95 currently serving as support. If price action breaks below, the next Fib hurdle is $14.24. Despite this, Asana could begin to recover as it approaches significant support, now 36 cents away from $14.12. Dipping below could be an indication that further losses are ahead.
Looking forward, Asana is poised to extend its strong downtrend and continue declining.
Asana was not the only decliner in the technology sector; Salesforce closed at $167.03 (down 3.82%). NVIDIA falls 4.8% Friday to close at $223.37.
On the other hand, positive performances could be seen by looking at other technology stocks as IBM was up 1.38%.
Furthermore, United States Consumer Price Index figure is projected at 0.4%. It previously stood at 0.1%; data will be released tomorrow at 13:30 UTC. United States Consumer Price Index is expected tomorrow at 13:30 UTC. United States Core Consumer Prices is expected tomorrow at 13:30 UTC.
The digital team enabler reached a significant high of $74.13 around 11 months ago but has lost 78.94% since then.