Asana levels up 4.14% in yesterday's session; traders eye opening bell in 3 hours time

A quick look at yesterday: an influx of buyers helped the digital team enabler to end the session higher around $22.13, while establishing a $21.29 to $22.39 session range yesterday.

United States JOLTs Job Openings (Apr) is next today at 14:00 UTC.

Asana's uptick comes amid good United States macroeconomic data released during the day — highly important Consumer Confidence data from United States beat analyst expectations of 99 with a reading of 102.3.

At the same time, United States S&P/CS HPI Composite – 20 n.s.a. (YoY) (Mar) came out at -1.1, while a consensus of analysts was expecting -1.6.

Chart analysis suggests Asana, Inc. could be slowing down soon as it approaches resistance at $22.58. Of course, crossing it might suggest further gains are ahead. With regards to technical trend indicators, chart analysis show that investors are seeking long positions as Asana price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. Momentum evaluation shows that the Relative Strength Index indicates Asana is currently 'overbought' which suggests new gains will be harder to obtain. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $23.03, thereby suggesting that Asana is becoming overvalued.

Notwithstanding Asana's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

A look at other technology stocks also showed bullish price action as Qualcomm was up 5.12%. Intel was up 3.41%.

Asana went up yesterday, yet these technology stocks did not follow — Intuit drops 2.95% yesterday to close at $418.43.

Yesterday's gains have given market bulls further impetus to expect strong macro data going forward, such as United States Crude Oil Inventories is projected to outperform its last figure with -1.10 million. It previously stood at -12.46 million; data will be released tomorrow at 15:00 UTC.

Furthermore, the market is looking at United States Initial Jobless Claims expected to decline to 235,000 while its preceding data was 229,000, data will be available tomorrow at 12:30 UTC.

Also worthy of note, United States ADP Nonfarm Employment Change (May) scheduled to come out tomorrow at 12:15 UTC.

The web and mobile application developer now trading 52.77% above its 3-month low of $11.78.