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June 18, 2023
Friday at a glance: after dropping down to $24.71, the web and mobile application developer recovers some losses and is currently trading at $25.
Asana, Inc. made an initial break below its 3 day Simple Moving Average at $24.87, a possible indication of a forthcoming negative trend. Asana's upper Bollinger Band® is at $25.77, suggesting that a downward move may follow. In contrast, Asana is approaching key support, around 62 cents away from $24.39. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Although price action remains in a stalemate, technical analysis suggests Asana could be primed for a break to the downside.
Meanwhile, mixed performances were seen by other technology stocks as Microsoft lost 1.66% Friday and closed at $342.33. Sony Group Corporation went down 2.11%, closed at $99.67. AMD went down 3.35%, closed at $124.24.
The stock has been trending positively for about a month. 5 months ago, the web and mobile application developer fell to a low of $11.78 but has since recovered 112.48%.
