After three days of going up, Smartsheet is down 2.96% today

The project management software company is sliding down from $42.9 to $41.63, taking a 2.96% loss as it nears the end of the session.

New United States Initial Jobless Claims data fell short of the 250,000 projected by analysts with a reading of 262,000 while failing to improve upon the previous reading from last month (262,000).

This down-slide takes place despite the positive US macroeconomics indicators data that was published earlier — United States Retail Sales released yesterday at 12:30 UTC is better than expected at 0.3% but down from preceding data of 0.4% according to new data.

Meanwhile, United States Philadelphia Fed Manufacturing Index (Jun) released yesterday at 12:30 UTC with a figure of -13.7, while the previous figure was -10.4.

Following today's trading session, chart analysis suggests Smartsheet Inc. could begin to recover as it approaches significant support, now 52 cents away from $41.11. Dipping below could be an indication that further losses are ahead.

In the meantime, negative performances are also seen in other technology stocks as after closing the previous session (yesterday) at $124.24, AMD lost $3.67 and is trading around $120.57. Sony Group Corporation is trading around $98.06 (down 1.62%).

Positive performances can be seen by looking at other technology stocks as Intel added 1.91% to its value, now trading at $36.51.

The project management software company has fallen back around 16.96% over the past 10 days, from a notable high of $51.66.