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February 22, 2023
Yesterday at a glance: the web and mobile application developer hovered around the $14.71 level after closing Friday at $15.61 and shedding 5.77%, as it reached reached yesterday's session close.
United States FOMC Meeting Minutes is next today at 19:00 UTC.
Amid the market gloom, United States Existing Home Sales (Jan) released yesterday at 15:00 UTC with a figure of 4 million, while the previous figure was 4 million. United States 2-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.673, while the previous figure was 4.139. United States Existing Home Sales improved upon its previous reading of -2.2% with a new data release of -0.7%.
After descending below strong Fibonacci support at $14.95, market bears have earmarked $14.24 as the next downside target. Support/Resistance levels obtained from chart analysis indicate that Asana could begin to recover as it approaches significant support, now 36 cents away from $14.35. Dipping below could be an indication that further losses are ahead.
Asana was not the only decliner in the technology sector; Intel went down to $26.06, losing 5.61% after it closed at $27.61 yesterday. Accenture plc Class A (Ireland) went down 2.85%, closed at $277.05. IBM went down 2.45%, closed at $135.02.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Crude Oil Inventories projected to decline to 1.17 million while previous data was 16.28 million; data will be released tomorrow at 16:00 UTC. United States Initial Jobless Claims projected to come out at 200,000 — worse than previous data of 194,000; data will be released tomorrow at 13:30 UTC.
Furthermore, United States GDP is expected tomorrow at 13:30 UTC.
The digital team enabler is trading 74.69% lower compared to the $60.78 high it reached over the past year.
