Asana closed at $22.04 after losing 2.39% yesterday

Yesterday at a glance: pronounced bearish sentiment in the market pushed the digital team enabler into a notable 2.39% slide yesterday, falling 54 cents and ultimately closing at $22.04.

Pending Home Sales in United States fell short of market expectations (-0.5%) with a reading of -2.7%, continuing the decline from the previous figure of -0.4%.

This down-slide takes place despite the positive US macroeconomics indicators data that was published earlier — United States GDP beat the 1.4 projections, with two. Highly important Initial Jobless Claims data from United States beat analyst expectations of 266,000 with a reading of 239,000.

Chart analysis suggests Asana, Inc. could begin to recover as it approaches significant support, now 47 cents away from $21.57. Dipping below could be an indication that further losses are ahead. Concerning technical analysis and more specifically, trend indicators, Asana made an initial break below its 5 day Simple Moving Average at $22.31, a possible indication of a forthcoming negative trend. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $20.79, a low enough level to, generally, suggest that Asana is trading below its fair value.

With market volatility ebbing, the current technical outlook indicates Asana will remain range-bound for the immediate future.

Asana was not the only decliner in the technology sector; Intel closed at $32.91 (down 1.97%).

On the other hand, positive performances could be seen by looking at other technology stocks as Accenture plc Class A (Ireland) added 2.19% to its value, and traded at $308.33. IBM gained 1.75%, as it traded at $134.06.

Furthermore, United States Core PCE Price Index (MoM) (May) is expected today at 12:30 UTC.

Asana hit a significant low of $11.78 around 5 months ago, but has since recovered 91.68%.