| 
April 19, 2023
A quick look at today: the web and mobile application developer has recovered almost all of its session losses after dipping down to $18.1 today.
United States's Crude Oil Inventories new data released of -4.58 million below its previous figure.
Following a previous reading of 597,000, Crude Oil Inventories in United States released today at 14:30 UTC fell short of the -1 million figure expected by analysts with an actual reading of -4.58 million.
Meanwhile, United States Building Permits (Mar) came out at 1.41 million, while a consensus of analysts was expecting 1.45 million. United States 20-Year Bond Auction released today at 17:00 UTC with a figure of 3.92, while the previous figure was 3.909.
Asana, Inc. made an initial break below its 50 day Simple Moving Average at $18.23, a possible indication of a forthcoming negative trend. In contrast, Asana could begin to recover as it approaches significant support, now 32 cents away from $18.22. Dipping below could be an indication that further losses are ahead. Bollinger Bands® shows an indication of recovery: the lower band is at $18, a low enough level to, generally, suggest that Asana is trading below its fair value.
Overall, looking at the technical analysis landscape, it seems that although indicators are mixed and some are pointing in different directions further drawbacks may be next for Asana.
Asana was not the only decliner in the technology sector; Cisco Systems went down 4.51%, closed at $50.31. ASML Holding went down 3.07%, closed at $643.33. Intel closed at $31.15 (down 2.14%).
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as tomorrow at 12:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 240,000 from the preceding figure of 239,000.
Furthermore, United States Philadelphia Fed Manufacturing Index (Apr) is scheduled for tomorrow at 12:30 UTC. United States Existing Home Sales (Mar) scheduled to come out tomorrow at 14:00 UTC.
Pointing downwards for around a month. Asana hit a significant low of $11.78 around 3 months ago, but has since recovered 58.91%.
